Stann Marine: “agreement in principle” reached over compensation for Ever Given accident

You can read this article in 2 minutes

Stann Marine: “agreement in principle” reached over compensation for Ever Given accident

Stann Marine, a legal representative of the owners of the Ever Given container ship that blocked the Suez Canal in March, has announced that it has reached an agreement in principle over a compensation dispute with the Suez Canal Authority.

In a statement, Faz Peermohamed of Stann Marine said work was underway to finalise a signed settlement agreement as soon as possible and arrangements for the release of the Ever Given vessel would be made after formalities had been dealt with.

“Together with the owner and the ships’ other insurers, we are now working with the SCA to finalise a signed settlement agreement as soon as possible,” the statement reads.

As Splash247 reports, the aforementioned announcement comes after an improved offer from Shoei Kisen, the owners of the Ever Given, to free its vessel after its first offer of $150m. In May, the Suez Canal Authority also reduced its claim from $916m to $550m.

The exact financial details regarding the settlement have not been made public. Meanwhile, the Ever Given remains moored at the Great Bitter Lake, where it has been held by Egyptian authorities since March 29th.


Photo: Robert Schwemmer for NOAA’s National Ocean Service, CC BY-SA 2.0, via Wikimedia Commons

Trending articles
Trending articles