A representative for the Ever Given cargo ship announced Sunday that a solution has officially been reached with the Suez Canal Authority (SCA) over compensation to Egypt’s authorities for the blockade of the waterway. Earlier on Sunday, the Ismailia Economic Court decided to postpone hearings of the SCA Canal lawsuit against the Ever Given to July 11 to allow the parties finalize the settlement. He explained that the authority is only looking for compensation for its losses incurred from the disruption to navigation and trade. The Ever Given vessel ran aground in the Suez Canal in March, causing a six-day halt on traffic, and halted the global trade movement. Evergreen Marine Corp, the Taiwanese operator of the cargo ship Ever Given, has initially denied responsibility for any financial losses caused by the incident.