Suez Canal Says Deal Reached to Free Seized Vessel

Released by Suez Canal Authority, the Ever Given, a Panama-flagged cargo ship is accompanied by Suez Canal tugboats as it moves in the Suez Canal, Egypt, on March 29, 2021. Suez Canal Authority via AP

CAIRO—The Suez Canal Authority on Sunday said it has reached an agreement to settle a financial dispute with the owners of a hulking container ship that blocked the crucial waterway for nearly a week earlier this year.

The authority did not reveal details on the settlement deal with the Shoei Kisen Kaisha Ltd., the Japanese owner of the Ever Given. It said the deal will be singed in a ceremony in the Suez Canal city of Ismailia on Wednesday.