The insurer of containership Ever Given said an agreement in principle has been reached to release the ship from the Suez Canal from where Afloat adds, became blocked in March but was eventually freed in a major salvage effort.

As LloydLoadingList reports, the UK P&I Club said the deal followed extensive discussions with the Suez Canal Authority’s negotiating committee in recent weeks.

“Together with the owner and the ship’s other insurers we are now working with the SCA to finalise a signed settlement agreement as soon as possible,” the club said.

“Once the formalities have been dealt with, arrangements for the release of the vessel will be made.”

More on the story here.