Traffic resumes in Suez Canal as stranded ship floats, but supply dins may last weeks

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Traffic resumes in Suez Canal as stranded ship floats, but supply dins may last weeks

Late on Monday, shipping has been in motion again in the Suez Canal after salvage ships had managed to dislodge the giant 400-metre Ever Given which had been blocking the busiest sea passage between Asia and Europe since last Tuesday, though major container lines said that a ludicrous logjam on either side of the Canal stemming cataclysmic disruptions in global supply chains, could persist for weeks, if not months.

As of Monday night, at least 422 container ships were awaiting passages on either side of the Suez Canal, however, adding that the baleful backlog of ships could be cleared in less than four days, Suez Canal Authority (SCA) Chair Osama Rabie said in an interview with the reporters that at least 113 ships were expected to pass through the Canal in both directions by Tuesday morning.

Suez Canal blockage removed, but supply disruption to impact global trade for weeks

In point of fact, earlier on March 23, a mammothlike Taiwanese container ship Ever Given, a leased property of Luzhu District-based shipping company Evergreen Line, stuck diagonally across a single-lane southern stretch of Suez Canal following gusts of winds and sandstorms, blocking the shortest shipping route between Europe and Asia.

Nevertheless, in the eve of Monday, SCA rescue workers alongside a Dutch salvage firm Smit Salvage, had partially re-floated the ship, and, after several hours, the ship had been back across the Canal during a high-tide, while the week-long process to put the ship back into water took a total of 11 tugs alongside two powerful sea tugs, which had dredged an approximated 30,000 cubic metres of sand to pull the 224,000-ton container ship free.

However, industry analysts were quoted saying after freeing up the passage late in the day that owners alongside charterers of a barrage of delayed ships, would likely to meet with at least $24 million in losses, which their insurers would not be covering, apart from a flurry of uninsured expenses.