The Administration previously announced that an agreement on compensation had been reached with the owner of the giant cargo ship “Ever Given”.
The agreement was signed today in the Egyptian city of Ismaili.
According to the Administration, the money will cover the operation of removing the ship, the costs of stopped traffic and the lost transit tax for the six days of the blockade, which disrupted the global delivery of goods.
Hundreds of ships stopped until the Canal was unblocked, and some ships were forced to travel a much longer distance around the whole of Africa, which forced them to pay extra for fuel and incur other costs.
About ten percent of world trade passes through the Suez Canal.