Free Republic

CAIRO - A giant container ship remained wedged sideways in the Suez Canal on Friday as signs of its potentially huge global economic toll emerged with shipping rates rising and cargo ships being rerouted away from the vital waterway. The Ever Given, a Panama-flagged vessel whose length is nearly the height of the Empire State Building, has been stuck in the canal since Tuesday, creating a massive traffic jam on both sides of the waterway that connects Asia to Europe. On Friday morning, the canal’s service provider, Leth Agencies, said in a tweet that the Ever Given “remains grounded in...

SUEZ, Egypt, March 27 (Reuters) – Efforts to dislodge a giant container ship blocking the Suez Canal had allowed its stern and rudder to move on Saturday, but it remained unclear when it could be refloated, the head of the canal authority said.

The number of vessels stuck in a traffic jam outside the Suez Canal rose to 200 Friday as recent efforts to free a cargo ship wedged between the Canal’s two banks failed. Dislodging the stuck ship, the Ever Given, could take up to a week, and the vessel can encounter structural issues while it remains stuck, a salvage expert told the Associated Press (AP). The Suez Canal handles approximately 12% of international trade. Its recent blockage threatens to harm the world economy and poses a disruption to global supply chains, CNBC reported.... The ensuing traffic jams forced several cargo ships...

‘We’ve offered U.S. assistance to Egyptian authorities to help reopen the canal,’ White House says

WASHINGTON (DTN) -- Crude and refined products futures on the New York Mercantile Exchange and Brent crude on the Intercontinental Exchange reversed higher in early trade Wednesday, with the international benchmark trading as much as 2% higher amid reports a massive Evergreen container ship ran aground in the Suez Canal, choking off passage through one of the world's busiest arteries for oil transit. The 200,000-tonne vessel en route from the Red Sea to the Mediterranean suffered an extensive blackout early Wednesday, causing the ship to turn sideways in the middle of the critical corridor for global oil trade, blocking both...

KEY POINTS Satellite imagery gives another perspective on the developing situation in Egypt’s Suez Canal, where a mega cargo container ship was turned sideways and stuck. Imagery captured on Tuesday by a Planet Labs’ Dove satellite showed the stranded ship, called the Ever Given, in the canal. Suez port agent GAC told Reuters that as of Wednesday morning, Ever Given had been partially refloated and moved against the bank of the canal. Satellite imagery captured on March 23, 2021 shows the cargo container ship Ever Given blocking the Suez Canal in Egypt. Planet Labs Satellite imagery gives another perspective on...

Port agent GAC said the stranded ship, Ever Given, had been partially refloated and moved alongside the canal bank.