Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Giant container ship stuck in Suez Canal partially refloated, port agent says

Published 03/23/2021, 11:35 PM
Updated 03/24/2021, 08:07 AM
© Reuters. A boat is seen on a dusty weather in the Suez city near the Suez Canal

By Yusri Mohamed, Jessica Jaganathan and Florence Tan

CAIRO (Reuters) - The giant container ship that has been blocking the Suez Canal for more than a day has been partially refloated and traffic along the fastest shipping route from Europe to Asia is expected to resume soon, port agent GAC said on Wednesday.

The 400-metre, 224,000-tonne Ever Given was stranded on Tuesday morning after losing the ability to steer amid high winds and a dust storm, the Suez Canal Authority (SCA) said in a statement.

About 30% of global container ship traffic passes through the canal each day, carrying everything from fuel to consumer goods. The main alternative route for ships travelling between Asia and Europe, around the African cape, takes a week longer to navigate.

Pictures posted on social media had appeared to show the ship positioned diagonally across the canal, blocking its full width. Photos shared by the SCA showed a digger removing earth and rock from the bank of the canal around the ship's bow.

About 12% of world trade by volume passes through the canal, and it is a major source of hard currency for Egypt.

Tracking maps had shown the ship grounded in the southernmost stretch of the waterway, between the Great Bitter Lake and the Red Sea port of Suez.

At least 30 ships were blocked to the north of the Ever Given, and three to the south, local sources said. Several dozen ships could also be seen grouped around the northern and southern entrances to the canal.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

GAC said on Wednesday on its website that 15 other ships in the northbound convoy behind the Ever Given were detained at anchorages waiting for the canal to be cleared. A southbound convoy was also blocked.

Grounded ‘Ever Given’ container ship chokes one of the world’s most vital shipping lanes: https://fingfx.thomsonreuters.com/gfx/ce/qzjpqldqovx/EverGivenShippingJam.png

Latest comments

What old channel is he talking about?
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.