On Tuesday, an Egyptian court gave the green light to release Ever Geffen. The giant container ship was seized after the Suez Canal was closed in late March, disrupting global trade.
The Suez Canal Authority had announced, at the end of last week, that an agreement had been reached with the Japanese company, Shui Kesen, the owner of the ship, regarding the release of Ever Given. The request submitted by the channel’s director on Tuesday was also approved by the head of the Ismailia Commercial Court.
The ship, which is 400 meters long and has a capacity of more than 200,000 tons, ran aground on March 23. Experts say it has blocked shipping in the Suez Canal for six days, as nearly 10 percent of trade passes by sea. The siege lasted six days. According to the Securities and Commodities Authority, Egypt lost between 12 and 15 million dollars (about 9.8 to 12.5 million euros) per day.
In late June, the Securities and Commodities Authority announced a preliminary agreement between Egypt and the owner of the Ever Geffen ship regarding the damages, after extensive negotiations between the ship’s insurance companies.
With the judge’s approval, the ship will be able to leave on Wednesday.
See also: Jeff ever captured by Egypt
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