Egypt Releases Ever Given Ship After Settlement Reached ...Egypt

Ever Given Ship. Source: BBC The ship which had blocked the Suez Canal for six days in March 2021, the Ever Given, was released and authorized to sail again starting from 7 July by the Suez Canal Authority (SCA). The Japanese ship was held by the SCA until a settlement was reached between the company and the SCA. The SCA had seized the ship and prevented it from leaving Egyptian waters following the ship’s blockage of the Suez Canal which resulted in a global trade crisis. According to The Guardian, the SCA initially requested compensation of $USD 916 million to cover the expenses of aiding the ship to break free. However, the requested demand was then lowered to $USD 550 million. On Sunday

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