A long-running dispute about the release of containership Ever Given, as Afloat previously reported, has been resolved and the vessel will resume its voyage this week, more than three months after the incident that blocked the Suez Canal.

“Following the agreement in principle between the parties, and after further meetings with the Suez Canal Authority’s negotiating committee and numerous court hearings, good progress has been made and a formal solution has now been agreed,” the UK P&I Club, the vessel’s insurer, said in a statement.

“Preparations for the release of the vessel will be made and an event marking the agreement will be held at the authority’s headquarters in Ismailia in due course.''

Reuters reports that the SCA will sign the settlement contract on July 7, allowing the ship to resume its voyage. No details of the final settlement were given.

Last month an agreement in principle was reached between the vessels owners and insurers.

More from the SCA here, reports LloydsLoadingList.