Economy

Egyptian Suez Canal Authority resume efforts to refloat delinquent ship "Ever Given"

Egyptian Suez Canal Authority resume efforts to refloat delinquent ship

Christoph Baumeister, senior trade manager, Asia/ISC Europe at Flexport, said the grounding of the Ever Given in the Suez Canal "had added even more pressure to already stressed supply chains".

The Ever Given, a container ship nearly as long as the Empire State Building is tall, ran aground on Tuesday after being caught in 40-knot winds and a sandstorm that caused low visibility and poor navigation.

On average, almost 50 vessels pass along the Suez Canal each day under normal circumstances, although at times the number can be much higher than that, with about 12% of global trade passing through the 120-mile canal.

In an update on its website Friday, the SCA said it appreciated "offers of global aid in the floatation" of the Ever Given.

The massive container ship lodged in the Suez Canal may be disrupting global supply chains for weeks to come, but we'll at least have memes to float us through.

More than 15 per cent of global shipping traffic moves through the canal, which is the fastest seaborne route between Asia and Europe. It did not specify what kind of assistance was offered.

The ship blocking the Suez passage is the MV Ever Given, a Panama-flagged vessel operated by Taiwanese company Evergreen and owned by Shoei Kisen Kaisha Ltd, of Japan.

Already, specialist broker McGill and Partners has warned that the re/insurance industry could be looking at costs in excess of $100 million due to the ongoing obstruction in the Suez Canal, although this figure will likely continue to rise for every day the obstruction remains in place.

"The focus now is on dredging to remove sand and mud around the port side of the vessel's bow", BSM said in a statement on its website Friday. Giving a sample route, the company said: "Suez to Amsterdam at 12 knots is just over 13 days via the canal, or 41 days via the Cape".

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In order to reach a depth of 39 to 52 feet, the Suez Canal Authority said it would need to remove more than 6,000 tonnes of sand.

A team from Boskalis, a Dutch firm specialized in salvaging, started working with the canal authority Thursday.

With some experts predicting that freeing the ship could take weeks, some global shipping companies on Friday began seeking alternative routes for their cargo.

He said there was still a lot of work to be done on board his ship, and that he and his fellow crewmembers had not yet had a chance to communicate with the other vessels.

An Egyptian canal authority official called the refloating a "very sensitive and complicated" operation which needs to "be handled very carefully". It said 49 container ships were scheduled to pass through the canal in the week since the Ever Given became lodged.

Apparently, the folks at the Suez Canal Authority (SCA) are seeing them as well.

The Ever Given was involved in an accident in northern Germany in early 2019, when the freighter ran into a small ferry that was moored on the Elbe river in the port city of Hamburg. No passengers were on the ferry at the time and there were no injuries, but it was seriously damaged.

Hamburg prosecutors opened an investigation of the Ever Given's captain and pilot on suspicion of endangering shipping traffic, but shelved it in 2020 for lack of evidence, spokeswoman Liddy Oechtering told The Associated Press.

There has been no suggestion from officials that this particular pattern was anything other than accidental.



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