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Suez Canal compensation no impact on Ever Given owner

Japan's Imabari says insurance will cover payout and that it has turned a profit

Shoei Kisen President Yukito Higaki said that negotiations over the Ever Given incident had helped "deepen relations" with Egyptian authorities.

TOKYO -- Japan's Imabari Shipbuilding, whose subsidiary owns the Ever Given container ship that got stuck in the Suez Canal earlier this year resulting in a blockage of the key shipping route, said on Monday that insurance will cover "to some extent" the compensation it has to pay out.

The company held a press conference where Yukito Higaki, president of Imabari and its affiliate Shoei Kisen, told reporters that the accident will have "no major impact" on its earnings.

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