Japan’s Shoei Kisen Kaisha has increased its offer to settle a $550m insurance claim from the Suez Canal Authority (SCA).

The claim relates to the March grounding of the Shoei-owned 20,388-teu Ever Given (built 2018), which closed the Suez Canal for six days and disrupted world trade.

The Japanese shipowner's protection and indemnity insurer, the UK P & I Club, confirmed that a revised offer had been made during ongoing talks between the parties. The club said the details of the negotiations remain confidential.