Ever Given: IKEA, Lenovo and many more businesses still have products stuck in the Suez Canal

IKEA and Lenovo (LNVGF) are among the companies with products stuck on the Japanese-owned vessel that blocked the Suez Canal for six days in March. Smaller firms such as UK bicycle maker Pearson 1860 and Snuggy UK, which makes wearable blankets, also have vital orders stuck in limbo.

“We don’t hold out much hope of seeing our stock this year and although it is insured in transit, we have guessed there will be little chance of seeing a settlement for months if not years,” Will Pearson, director of Pearson 1860, told CNN Business. His company has products worth more than $100,000 on the ship.

An Egyptian court impounded the Ever Given and its 18,300 cargo containers after the Suez Canal Authority filed an initial $916 million compensation claim against Japanese ship owner Shoei Kisen Kaisha for damages and losses incurred when the ship ran aground in a narrow part of the canal, blocking traffic.

The Ever Given — and its cargo — are being held in the…

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