TheCable

Ever Given, the mega-container ship that had blocked the Suez Canal for days in March, has been released on Wednesday by Egyptian authorities.

The ship finally gained its freedom after it was seized three months ago.

The saga began on March 23 when Ever Given, a vessel headed for Rotterdam, had gotten stuck in Egypt’s Suez Canal — one of the world’s busiest shipping channels and the shortest shipping route between Asia and Europe.

The 200,000-tonne ship is said to be the length of four football pitches with the capacity of carrying 20,000 containers.

The Suez Canal Authority (SCA) had said the blockage was caused by the inability of the vessel to maintain a straight path due to high winds and reduced visibility caused by a sand storm.

The ship had blocked an estimated $9.6 billion (N3.93 trillion) worth of goods per day.

Ever Given was refloated six days later in a massive rescue operation that had involved the use of dredging and excavation work.

However, Egypt retained the vessel seeking compensation from Shoei Kisen Kaisha, the Japanese owner of the ship, for lost canal revenues and the cost of salvaging it and for damage to the shipping lane that links Asia and Europe.

The SCA said Egypt lost 12 to 15 million dollars per day of closure.

The authority initially asked for $916m compensation, including $300m for a salvage bonus and $300m for loss of reputation. It later lowered it to $550 million.

The SCA, on Monday, announced that it has  reached a deal with the ship’s owner, but did not reveal details on the settlement.

The settlement deal was signed in a ceremony on Wednesday in the Suez Canal city of Ismailia, after which the vessel was seen sailing to the Mediterranean.

Speaking at the ceremony, Osama Rabie, SCA chairman said: “I give the permission for the Ever Given to sail.”