The parties have come to an agreement on the vessel release from the Suez Canal after the notorious incident in March.
It is announced that the Suez Canal authorities and the proprietor of the ship have successfully negotiated and cut a deal on the recompense for the losses caused by the blockage of the narrow water path.
On the 7th of July, the ship will be able to sail again. After the ship was freed on 29 March it was transported to the Great Bitter Lake where it underwent technical analysis and got withheld (along with the crew) until the end of the pay discords.
The contract is expected to be signed this Wednesday during a special ceremony. The parties will fill in all the necessary papers and watch the ship flow away from the lake.
The representative of Shoei Kisen, the Japanese firm which is the owner of the ship, has said that the preparations had already begun and a special event would soon take place at the headquarters.
However, no precise details of the deal have been given.
Earlier it was reported that the Suez Canal Authority had set the demand of $916m which was later lowered up to $550m. This sum includes monetary losses, damage to the reputation, and the salvage costs.
According to Osama Rabie, the CEO of the Suez Canal Authority, even in spite of the accident, the canal revenue in the first half of 2021 increased by almost 9% in comparison to the first 6 months of 2020 and reached $3bn.