Suez authorities release vessel that blocked canal after deal reached

The Ever Given (Mohamed Elshahed/AP)

Suez Canal authorities announced the release of a shipping vessel that blocked the crucial east-west waterway for nearly a week earlier this year.

The Ever Given is leaving the Suez Canal after its Japanese owner, Shoei Kisen Kaisha Ltd, reached a settlement with the canal authorities over a compensation amount after more than three months of negotiations and a court standoff.