{"id":563478,"date":"2021-07-05T03:57:03","date_gmt":"2021-07-05T03:57:03","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/05\/ever-given-unshackled\/"},"modified":"2021-07-05T03:57:03","modified_gmt":"2021-07-05T03:57:03","slug":"ever-given-unshackled","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/05\/ever-given-unshackled\/","title":{"rendered":"Ever Given unshackled"},"content":{"rendered":"

<\/a> The Ever Given will be released on Wednesday, 7 July<\/strong> after the Suez Canal Authority (SCA) and the Ever Given\u2019s owners reached a compensation settlement for the six-day blockage of the canal in March, the authority told Bloomberg<\/a> yesterday. The SCA said that a signing ceremony will be held on the same day before the ship is allowed to leave the Bitter Lake, where it has been detained by the SCA<\/a> for almost three months.<\/p>\n

The breakthrough was confirmed by ins. company <\/strong>UK P&I Club<\/a><\/strong> and law firm <\/strong>Stann Marine<\/a><\/strong>, which is representing the owner of the ship, Shoei Kisen, and its ins. companies. \u201cGood progress has been made and a formal solution has now been agreed,\u201d UK P&I Club said. \u201cPreparations for the release of the vessel will be made and an event marking the agreement will be held at the Authority\u2019s headquarters in Ismailia in due course.\u201d<\/p>\n

The details on the settlement are still being kept on the down low:<\/strong> Unconfirmed reports over the weekend suggested that Shoei Kisen has agreed to pay the SCA USD 540 mn<\/a>, a substantial increase from the USD 150 mn<\/a> it was reportedly holding out for. The SCA in May slashed its demands to USD 550 mn<\/a> from USD 916 mn<\/a>. The authority will also receive a new tugboat as part of the agreement.<\/p>\n

Ismailia Economic Court<\/strong> will hold a hearing <\/strong>\u2014<\/strong>which could be the last<\/strong>\u2014<\/strong> on Ever Given compensation case next Sunday<\/strong>. Both SCA and the ship\u2019s owners asked yesterday the Ismailia Economic Court to adjourn hearings<\/a> in the compensation dispute to 11 July as they\u2019re close to signing a final agreement \u201cwithin days.\u201d<\/p>\n

The story is getting coverage in the foreign press:<\/strong> Reuters<\/a> | Associated<\/a>Press<\/a> | AFP<\/a> | Sputnik<\/a>.<\/p>\n

IN RELATED NEWS-<\/strong><\/p>\n

The Ever Given crisis didn\u2019t dent the canal\u2019s revenues:<\/strong> The Suez Canal brought in USD 3 bn during the first six months of the year, up almost 9% from the same period last year, SCA boss Osama Rabie told Al Kahera Wel Nas last night (watch, runtime: 7:58<\/a>). Canal revenues totalled USD 1.45 bn, according to balance of payments figures<\/a> released last week by the central bank. The canal is expected to bring in over USD 6 bn worth of revenues in 2021.<\/sup><\/p>\n","protected":false},"excerpt":{"rendered":"

The Ever Given will be released on Wednesday, 7 July after the Suez Canal Authority (SCA) and the Ever Given\u2019s owners reached a compensation settlement for the six-day blockage of the canal in March, the authority told Bloomberg yesterday. The SCA said that a signing ceremony will be held on the same day before the […]<\/p>\n","protected":false},"author":1,"featured_media":563479,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8996],"tags":[957,72,134,7103,133],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-563478","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-suez-canal","tag-dispute-watch","tag-enterpriseam","tag-ever-given","tag-suez-canal","tag-suez-canal-authority","wpautop","entry"],"acf":{"mongo_id":"d749530d-6750-4b6a-b4da-a4934a2550ae","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/7\/30.jpg","photo_position":"above","related_issue":[563471],"teaser":"","voice_url":""},"yoast_head":"\nEver Given unshackled - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/05\/ever-given-unshackled\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ever Given unshackled\" \/>\n<meta property=\"og:description\" content=\"The Ever Given will be released on Wednesday, 7 July after the Suez Canal Authority (SCA) and the Ever Given\u2019s owners reached a compensation settlement for the six-day blockage of the canal in March, the authority told Bloomberg yesterday. 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The expansion \u2014 which President Abdel Fattah El Sisi wants to see completed within 24 months \u2014 will add a 10 km extension to the\u2026","rel":"","context":"In "Infrastructure"","block_context":{"text":"Infrastructure","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/infrastructure\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/5\/120.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":562759,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/06\/ever-given-blame-game-continues\/","url_meta":{"origin":563478,"position":3},"title":"Ever Given blame game continues...","author":"enterpriseam admin","date":"6 June 2021","format":false,"excerpt":"A solution to the Ever Given dispute seemed further away than ever over the weekend as the Suez Canal Authority and the ship\u2019s insurer traded public accusations over who was responsible for the six-day blockage of the canal.We seemed to be getting somewhere last month when the SCA agreed to\u2026","rel":"","context":"In "Suez Canal"","block_context":{"text":"Suez Canal","link":"https:\/\/enterpriseam.com\/egypt\/category\/data\/suez-canal\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/73.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":566507,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/23\/ever-given-resolution-in-the-foreseeable-future\/","url_meta":{"origin":563478,"position":4},"title":"Ever Given resolution in the foreseeable future?","author":"enterpriseam admin","date":"23 June 2021","format":false,"excerpt":"Lawyers representing the Ever Given\u2019s owner and ins. company have reached an agreement in principle with the Suez Canal Authority (SCA) over compensation claims, Al Masry Al Youm reports. The ship\u2019s ins. provider, UK P&I Club, said earlier this month that it was engaged in \u201cserious and constructive negotiations\u201d with\u2026","rel":"","context":"In "SPEED ROUND: SUEZ CANAL"","block_context":{"text":"SPEED ROUND: SUEZ CANAL","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-suez-canal\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/569.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":561646,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/15\/the-ever-given-is-good-to-go-once-its-owners-settle-their-dues\/","url_meta":{"origin":563478,"position":5},"title":"The Ever Given is good to go \u2014 once its owners settle their dues","author":"enterpriseam admin","date":"15 April 2021","format":false,"excerpt":"The Ever Given container ship is fit to depart the Suez Canal once an agreement has been reached between the Suez Canal Authority and the ship\u2019s owner, the German technical management company Bernhard Schulte Shipmanagement (BSM) said in a statement after making a \u201cthorough inspection\u201d of the vessel.Plenty of disappointment\u2026","rel":"","context":"In "Suez Canal"","block_context":{"text":"Suez Canal","link":"https:\/\/enterpriseam.com\/egypt\/category\/data\/suez-canal\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/4\/156.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/563478","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=563478"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/563478\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/563471"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/563479"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=563478"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=563478"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=563478"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=563478"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=563478"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}