An Egyptian court on Tuesday lifted a three-month-long judicial seizure of a hulking shipping vessel that had blocked the Suez Canal for nearly a week earlier this year, paving the way for it to leave Egypt.

Following the decision by the court in the city of Ismailia, the Ever Given would be allowed to leave the canal on Wednesday, after a ceremony in the canal city of Ismailia.

Earlier, the Suez Canal Authority notified the court that it reached a settlement in its financial dispute with Shoei Kisen Kaisha Ltd., the Japanese owner of the Ever Given, a judicial official said, speaking on condition of anonymity in line with regulations.

The vessel ran aground in March, blocking the crucial waterway for six days. It has been since held amid a dispute over financial compensation.

(With input from agencies)