No Result
View All Result
Wednesday, July 16, 2025
MM News
اردو
  • Home
  • Latest News
  • National
  • Dramas
  • Showbiz
    File photo

    Sidharth Malhotra, Kiara Advani welcome baby girl

    (Image: Instagram/Aliza Sultan)

    Once bitten, twice shy: Aliza Sultan says to think for 100 years before marriage

    Ishtiyak Khan

    What made Salman Khan and Ranbir Kapoor’s co-star run an omelette stall?

    Dua-e-Khadija during Miss Global Pakistan 2025 (Image: Instagram/misspakistanglobal)

    Dua-e-Khadija from Peshawar wins Miss Global Pakistan 2025 crown

    Mohan Raj

    Video: Stunt artist Mohan Raj dies during car stunt for film

    Kahiin to hoga

    Why did Rajeev Khandelwal quit Kahiin To Hoga at the peak of his fame?

  • Thought Box
  • Business
  • Opinions
  • Technology
  • The Other Side
MM News
  • Home
  • Latest News
  • National
  • Dramas
  • Showbiz
    File photo

    Sidharth Malhotra, Kiara Advani welcome baby girl

    (Image: Instagram/Aliza Sultan)

    Once bitten, twice shy: Aliza Sultan says to think for 100 years before marriage

    Ishtiyak Khan

    What made Salman Khan and Ranbir Kapoor’s co-star run an omelette stall?

    Dua-e-Khadija during Miss Global Pakistan 2025 (Image: Instagram/misspakistanglobal)

    Dua-e-Khadija from Peshawar wins Miss Global Pakistan 2025 crown

    Mohan Raj

    Video: Stunt artist Mohan Raj dies during car stunt for film

    Kahiin to hoga

    Why did Rajeev Khandelwal quit Kahiin To Hoga at the peak of his fame?

  • Thought Box
  • Business
  • Opinions
  • Technology
  • The Other Side
No Result
View All Result
No Result
View All Result
MM News
اردو
  • Latest
  • Showbiz
  • Thought Box
  • Business & Stock
  • Opinions
  • Technology
  • The Other Side-Pakistan
Home World

Egypt agrees to release ship that blocked Suez Canal

MM News Staff by MM News Staff
July 6, 2021

ISMAILIA: The owners and insurers of the Ever Given container ship that blocked the Suez Canal in March said a formal settlement had been agreed in a compensation dispute, and the canal authority said the vessel would be allowed to sail on July 7.

The Suez Canal Authority (SCA) has held the giant ship and its crew in a lake between two stretches of the waterway since it was dislodged on March 29, amid a dispute over a demand for compensation by the SCA.

The Japanese-owned Ever Given had become stuck in high winds and remained wedged across the canal for six days, disrupting global trade.

“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,” Faz Peermohamed of Stann Marine, which represents owner Shoei Kisen and its insurers, said in a statement.

The SCA said the settlement contract would be signed on Wednesday at a ceremony, and that participants would be able to watch the ship leaving. Stann Marine gave no details of the settlement.

Osama Rabie, the SCA chairman, said the canal will receive a tug boat with a pulling capacity of about 75 tonnes as part of a settlement, without mentioning any other details.

“We preserved the rights of the authority in full, preserved our relationship with the company and also political relations with Japan,” he told a private TV channel on Sunday evening.

The canal earned revenue of $3 billion in the first six months of 2021, up 8.8% compared with the same period last year, despite the Ever Given accident, Rabie said.

Shoei Kisen and its insurers said last month they had reached an agreement in principle with the SCA. read more

The SCA had demanded $916 million in compensation to cover salvage efforts, reputational damage and lost revenue before publicly lowering the request to $550 million. Shoei Kisen and the ship’s insurers had disputed the claim and the ship’s detention under an Egyptian court order.

Earlier on Sunday, an Egyptian court adjourned hearings in the compensation dispute to July 11 to allow the canal and the ship’s owner to finalise the settlement, court sources and a lawyer said.

Tags: blockEgyptreleaseshipsuez canal
ShareTweetSendShare
Previous Post

Tajikistan calls up reservists to secure border as Afghan troops flee Taliban

Next Post

Indian terror financing

Related Stories

Oliver Haarmann and Reese Witherspoon in New York City on Sept. 4, 2024.
Credit : TheImageDirect.com
Trending

Who is Reese Witherspoon’s love Oliver Haarmann?

July 15, 2025
File photo
Thought Box

Who was Fauja Singh?

July 15, 2025
Gaza
Top News

New video shows Palestinians under fire while waiting for aid in Gaza

July 15, 2025
Fight in Syria
Top News

Over 30 killed, 100 injured in armed clashes in Syria

July 14, 2025
Schoolgirls in Russia
Top News

Which country is encouraging schoolgirls to get pregnant for cash rewards?

July 14, 2025
London Southend Airport
Top News

Video: Small aircraft crashes at London Southend Airport

July 14, 2025
A vessel said to be Greek-operated, Liberia-flagged Eternity C sinks in a footage released by Yemen's Houthis, in the Red Sea, in this screen grab taken from a handout video released on July 9, 2025. HOUTHI MEDIA CENTER/Handout via REUTERS/File Photo
World

‘All Crew Muslim’: Ships use messaging tactics to avoid Houthis attacks in Red Sea

July 13, 2025
President Donald Trump delivers remarks on tariffs in the Rose Garden at the White House in Washington, DC, on April 2.
Carlos Barria/Reuters
Business & Stock

Trump slaps 30% to 50% tariffs on THESE countries

July 13, 2025
file photo
World

Iranian media claims Israeli attack injured President Pezeshkian during recent war

July 13, 2025
image: Online
World

WHO sends Sheikh Hasina’s daughter, Saima Wazed on indefinite leave amid corruption allegations

July 13, 2025
Next Post

Indian terror financing

Trending Stories

File photo
Trending

Sidharth Malhotra, Kiara Advani yet to announce name of their baby girl

by MM News Staff
July 16, 2025
File photo
Film & TV

Sidharth Malhotra, Kiara Advani welcome baby girl

by MM News Staff
July 15, 2025
Film & TV

How to watch the new Harry Potter series online?

by MM News Staff
July 15, 2025
Oliver Haarmann and Reese Witherspoon in New York City on Sept. 4, 2024.
Credit : TheImageDirect.com
Trending

Who is Reese Witherspoon’s love Oliver Haarmann?

by MM News Staff
July 15, 2025
File photo
Thought Box

Who was Fauja Singh?

by MM News Staff
July 15, 2025

Opinion

nadeem moulvi
From Sects to Sunnah
July 15, 2025
- Nadeem Moulvi
Munir-Ahmed
Portugal and Pakistan: Building a Bilateral Bridge in a Fractured World
June 29, 2025
- Munir Ahmed
munir ahmed oped
A Peace Prize for Betrayals: Rethinking Pakistan’s Strategic Alliances
June 28, 2025
- Munir Ahmed
No posts found
See all

Weather Updates

Rain
Top News

Early morning rain brings pleasant weather to Lahore

by MM News Staff
July 15, 2025

Early morning heavy rainfall in various areas of Lahore made the weather pleasant, but...

Image: Online

Parts of Punjab including Lahore receive heavy monsoon rains

July 14, 2025
File photo

PMD forecasts date for next monsoon spell in Karachi

July 12, 2025
file photo

Flood warning issued as heavy rain expected in parts of Pakistan from July 13-17

July 11, 2025
See all

Prices

Petroleum Price in Pakistan
Business & Stock

How much will petrol and diesel prices increase starting today?

by MM News Staff
July 15, 2025

There is a possibility of an increase in petroleum product prices for the next...

Foreign Currency

Foreign currency exchange rates in Pakistan, 15 July 2025

July 15, 2025
(Representational Image)

Govt to replace net metering with gross metering, slash buyback rate

July 14, 2025
representative image

Latest gold prices in Pakistan today- 14 July 2025

July 14, 2025
See all

Transport News

Korangi Causeway Road (File Photo)
Top News

Korangi Causeway road will be closed upon completion of Malir Expressway: CM Sindh

by MM News Staff
July 14, 2025

Sindh Chief Minister Syed Murad Ali Shah has announced that Korangi Causeway Road will...

Goods transporters join traders, announce nationwide wheel-jam strike on July 19

July 14, 2025
File photo

Pakistan Railways to launch business train between Karachi and Lahore

July 14, 2025
representative image

How to buy a motorcycle under Punjab’s interest-free installment scheme

July 14, 2025
See all

MM Digital (Pvt.) Ltd.

MM News is a subsidiary of the MM Group of Companies. It was established in 2019 with the aim of providing people of Pakistan access to unbiased information. Contact Details: 03200201537

Quick Links

  • Home
  • Advertise
  • MM News Urdu
  • The Other Side-Pakistan
  • Contact Us
  • Privacy Policy

Top Pages

  • Latest News
  • Showbiz
  • OP-ED
  • Technology
No Result
View All Result
  • Latest News
  • Showbiz
  • Thought Box
  • Business
  • Opinions
  • Technology

© Copyright 2024 MMNews - All Rights Reserved.