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Global Reinsurers Stare at Massive Losses from Suez Canal Blockage
The blocking of the Suez Canal by one of the world’s largest container ships is likely to result in losses worth hundreds of millions of euros for the reinsurance industry, Fitch Ratings said, even as rescue teams were successful in partially refloating the vessel on Monday.The 400-metre (430-yard) long Ever Given got wedged diagonally across the canal in high winds early last Tuesday, blocking the…
Giant Ship Blocking Suez Canal Partially Refloated
A massive container ship blocking Egypt's Suez Canal for nearly a week has been partially refloated, the Suez Canal Authority (SCA) said on Monday, raising hopes the busy waterway will soon be reopened for a huge backlog of ships.The 400-meter (430-yard) long Ever Given became jammed diagonally across a southern section of the canal in high winds early last Tuesday, halting shipping traffic on the…
Suez Crisis Adds to Pandemic Supply Worries
A stranded container ship blocking the Suez Canal threatens to make it even more difficult for European and U.S. retailers to keep products in stock during the coronavirus pandemic.The Suez Canal saga that began on Tuesday and could go on for weeks, is just the latest crisis to strike the global supply chain that was upended when coronavirus shutdowns spurred house-bound consumers to upgrade appliances…
Diggers and Dredgers Struggle to Free Ship Blocking the Suez Canal
Suez Canal salvage teams intensified excavation and dredging on Sunday around a massive container ship blocking the busy waterway ahead of attempts to refloat it, with two sources saying work had been complicated by rock under the ship’s bow.Diggers were working to remove parts of the canal’s bank and expand dredging close to the ship’s bow to a depth of 18 meters, the Suez Canal Authority (SCA) said in a statement.There was no mention of new attempts to release the ship with tugs…
New Tug Joins Effort to Float Ship Stranded in Suez Canal
A newly arrived specialist tug ALP Guard has joined efforts on Sunday night to float the giant containership Ever Given stranded in the Suez Canal, the ship’s technical…
Egypt's President Orders Preparations for Lightening Ever Given Cargo
Egyptian President Abdel Fattah al-Sisi has ordered preparations for lightening the cargo of the giant container ship grounded in the Suez Canal, the head of the canal’s authority told Egypt’s Extra News on Sunday.The Ever Given containership has been blocking the waterway since Tuesday and salvage teams have been hoping to free it with dredgers and tugs without unloading any of its cargo.(Reporting by Omar Fahmy Writing by Aidan Lewis)
Ship Blocking Suez Canal Moves Slightly, Unclear When it Will Refloat
Efforts to dislodge a giant container ship blocking the Suez Canal have allowed its stern and rudder to move, but it remains unclear when the vessel will be refloated, the head of the canal authority said on Saturday.The 400 metre (430 yard) long Ever Given became wedged diagonally across a southern section of the canal amid high winds early on Tuesday, blocking one of the world’s busiest waterways.A…
IMO Issues Statement on Ever Given Grounding
The head of the United Nations' maritime agency issued a statement Friday following the grounding of containership Ever Given and the resulting closure of the Suez Canal.International Maritime Organization (IMO) Secretary-General Kitack Lim offered encouragement for local authorities and the teams working to dislodge the 400-meter-long vessel from the banks of one of the world's most important shipping chokepoints.
Ever Given Salvors Weigh Time and Tide with Risk of Tip or Tear
The Dutch emergency response team hired to free the vast ship blocking the Suez canal has pulled off some dramatic recoveries, including lifting Russia’s Kursk nuclear submarine from the Barents Sea floor, but says this is one of the trickiest.Weighing 200,000 tonnes without cargo, the Ever Given is the heaviest vessel that Smit Salvage, a subsidiary of the Dutch marine services company Boskalis contracted in the rescue…
Suez Canal Blockage Adds Strain to Global Supply Chains
A stuck container vessel in the Suez Canal, which has blocked the flow of goods through the narrow channel, will add strain to global supply chains already stretched by rebounding economic activity and tight shipping container supplies, analysts said on Friday.The 400-metres long Ever Given container vessel has been stuck in the canal since Tuesday, suspending traffic of containers transporting goods…
Race to Dislodge Suez Blockage as Shipping Rates Surge, Vessels Divert Away
The Suez Canal stepped up efforts on Friday to free a giant container ship blocking the vital trade waterway that has sent shipping rates for oil product tankers soaring and disrupted the global supply chains for everything from grains to baby clothes.Shipping rates for oil product tankers have nearly doubled after the 400 meter long Ever Given, almost as long as the Empire State Building is high,…
Owner of Ship Blocking Suez Canal Aims to Free It 'Tomorrow Night'
Shoei Kisen, the Japanese owner of the container ship blocking the Suez Canal, said it aims to free the ship "tomorrow night Japan time", the Nikkei reported on Friday.The 400-meter Ever Given, leased by Taiwan's Evergreen Marine Corp, is blocking transit through one of the world's busiest shipping channels for oil and grain and other trade linking Asia and Europe.A spokeswoman for the owner in Japan…
Ship Blocking Suez Canal Could Be Stuck for Weeks
A containership blocking the Suez Canal like a "beached whale" may take weeks to free, the salvage company said, as officials stopped all ships entering the channel on Thursday in a new setback for global trade.The 400-meter Ever Given, almost as long as the Empire State Building is high, is blocking transit in both directions through one of the world's busiest shipping channels for oil and grain and…
Specialist Salvage Teams Join Efforts to Refloat Ever Given in the Suez Canal
Salvage teams from the Netherlands and Japan have been hired to devise a plan to refloat a giant container ship blocking the Suez Canal, the company leasing the vessel said on Thursday.Taiwan’s Evergreen Marine Corp said Dutch firm Smit Salvage and Japan’s Nippon Salvage had been appointed by the ship’s owner and would work alongside its captain and the Suez Canal Authority on a plan to refloat it.“Evergreen Line will continue to coordinate with the shipowner and Suez Canal Authority to deal wit
Suez Canal Traffic Suspended as Efforts Continue to Dislodge Grounded Ship
The Suez Canal temporarily suspended traffic on Thursday as efforts to dislodge a 400 m (430 yard) long container vessel that has blocked the waterway continued for a third day, with eight tugs working to straighten the ship.The Ever Given vessel, almost as long as the Empire State Building is high, ran aground diagonally across the single-lane stretch of the southern canal on Tuesday morning after…
Ever Given Grounding Causes Vessel Logjam In and Near the Suez Canal
Dozens of ships carrying everything from oil to consumer goods have been delayed by the grounding of a vessel in the Suez Canal, and companies may have to reroute cargoes around Africa if the blockage extends beyond 24 hours, shipping sources said.Efforts were underway on Wednesday to refloat the 400-meter, 224,000-tonne Ever Given, which got stranded on Tuesday morning after losing the ability to…
Stranded Suez Ship's Owner, Insurers Face Millions in Claims
The owner and insurers of one of the world's largest container ships stuck in the Suez Canal face claims totaling millions of dollars even if the ship is refloated quickly, industry sources said on Wednesday.The 400-metre, 224,000-tonne Ever Given ran aground 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, threatening to disrupt global shipments for days.GAC…
Tugs Working to Free Grounded Containership in the Suez Canal
The shortest shipping route from Europe to Asia remained blocked on Wednesday as 10 tug boats struggled to free one of the world's largest container ships after it ran aground in the Suez Canal.The 400-metre, 224,000-tonne Ever Given ran aground 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 shipping volumes pass through the canal each day…
Container Ship Runs Aground Blocking Suez Canal Traffic
A container ship heading to Rotterdam ran aground in the Suez Canal on Tuesday, blocking other vessels from transiting one of the world's most important waterways, according to shipping company GAC and shipping data on Refinitiv Eikon.The 200,000-tonne vessel en route from the Red Sea to the Mediterranean ran aground at about 7:40 a.m. (05:40 GMT) on Tuesday after the ship suffered a blackout, GAC…
New Legislation Aims to Boost Great Lakes Icebreaking Capacity
New legislation introduced by U.S. Senators Tammy Baldwin (D-Wis.), Todd Young (R-Ind.) and Gary Peters (D-Mich.) will codify the U.S. Coast Guard’s icebreaking mission on the Great Lakes and increase the icebreaking capacity of the Great Lakes fleet.The Great Lakes Winter Commerce Act aims to increase Great lakes icebreaking capacity, which the lawmakers say will help the businesses and workers that…
