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The navigation traffic in the Suez Canal was disrupted for the fourth day after a huge ship stranded – Economy – Arab and International


Navigation in the Suez Canal is still suspended for the fourth consecutive day, after a huge container ship ran aground due to bad weather and closed the waterway, while the Egyptian authorities’ efforts to remove it continue, in light of the impact of global trade traffic in this accident.
The Suez Canal Authority indicated in a statement on Friday morning that the dredging of the sand surrounding the delinquent ship had been completed at 87%, with dredging rates approaching 17,000 cubic meters of sand. ”The authority announced in a statement on Thursday night that a bulldozer was used to carry out work. Dredging in the delinquency of the ship.

Dredging works
The dredging works aim to remove the sand surrounding the bow of the ship with dredging quantities ranging from 15 to 20 thousand cubic meters of sand, which will be expelled through external extrusion lines for the dredger, in order to reach the draft suitable for floating, which ranges from 12 to 16 meters.

An official of the “Shwe Kisen Kaisha” company, which owns the huge container carrier, added that the company had no information about the exact condition of the damage to the ship.
He noted that “locomotives and bulldozers are used to break rocks” in an attempt to get the ship out. The Suez Canal Authority said earlier Thursday that the navigation traffic was “temporarily suspended” until the giant ship that completely blocked the canal after it ran aground and got stuck in sand was re-floated.

The container ship “MV Evergiven” drifted on Tuesday morning in the southern side of the canal, near the city of Suez. The vessel, which was on a journey from China to Rotterdam, is 400 meters long, 59 meters wide, and has a gross tonnage of 224,000 tons. And trying to locomotives sent by the Suez Canal Authority since Wednesday morning.

The authority stated in a statement on Friday that it had received an American offer to “contribute to these efforts,” stressing that it looked forward “to cooperate with it in this regard, in appreciation of this kind initiative.” On Thursday evening, Lieutenant General Mohab Mamish, an advisor to Egyptian President Abdel Fattah El-Sisi for the Suez Canal projects, said that navigation traffic in the canal would resume “within a maximum of 48 to 72 hours.” Memish’s statement came after the Dutch company “Smit Salvage” that was assigned by the “Evergreen Marine Corp” group operating the vessel auxiliary to the float, said that the process may take “days or even weeks.”

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Peter Berdowski, CEO of Royal Boscalis, the parent company of the Dutch company, on Wednesday evening likened the ship to “a very heavy whale on the shore, so to speak.”

Cape of Good Hope
Major international shipping companies such as Maersk and Habag Lloyd are studying possible alternatives to overcome the crisis of shipbuilding in the face of the disruption of the Egyptian shipping course.
The global shipping news and data company “Lloyd’s List” says that the container vessel “Ever Great” bound for the Suez Canal, a container ship of the same size and capacity as the delinquent ship, “has now shifted its destination to the Cape of Good Hope.”
The company stated that a “queue waiting to cross the Suez Canal” with more than 200 ships “is now stuck due to the closure.”

Ship traffic
“Lloyd’s List” indicated that “rough calculations” indicate that daily ship traffic from Asia to Europe is estimated to be worth about $ 5.1 billion, and from Europe to Asia is estimated at $ 4.5 billion.
It is expected that the accident will slow maritime transport for days, but the economic consequences will remain limited in principle if the situation does not prolonged, according to experts.

Bjornar Tonhaugen of the Raystad office said that the price implications will depend on the disruption period, explaining that “the effects are likely to be weak and temporary.”
“But if the suspension continues for days, this may have greater effects on prices and for a longer period,” he added.
Oil prices have witnessed a rise due to the disruption of navigation in the Suez Canal over the past two days.

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“We have never seen anything like this before, but it is likely that the congestion will take several days or weeks to subside, as it will affect other shipments, schedules and global markets,” said Ranjith Raja, in charge of oil research at the US financial data company, Refinitiv.
The Suez Canal secures the passage of 10 percent of international maritime trade traffic, and forms a link between Europe and Asia.
The canal linking the Red Sea and the Mediterranean was inaugurated in 1869. Egyptian President Abdel Fattah El-Sisi announced in 2015 a project to develop the canal aimed at reducing waiting times and doubling the number of ships using it by 2023. To this end, the Egyptians dug in 2014 a new channel in which a ship was suspended Containers.

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