CAIRO—All ships stranded by the grounding of the giant container ship Ever Given in the Suez Canal in March had passed through the canal by Saturday, ending the backlog that built up during the blockage, the canal authority said. The last 61 ships, out of 422 ships that were queuing when the vessel was dislodged…
Suez Canal Must Upgrade Quickly to Avoid Future Disruption: Shipping Sources
CAIRO—Egypt’s Suez Canal must move quickly to upgrade its technical infrastructure if it is to avoid future shipping disruption, shipping industry sources said, as the major trade route tries to bounce back from a costly six-day closure. International supply chains were thrown into disarray on March 23 when the 400-metre-long (430-yard) container ship Ever Given…
Investigation Begins Into How Ship Got Stuck on Suez Canal
Formal investigations into how the giant container ship Ever Given ran aground in the Suez Canal, shutting down shipping in the major global waterway for almost a week, began on Wednesday, a canal official told Reuters. Suez Canal Authority (SCA) Chairman Osama Rabie has suggested weather conditions, including high winds, and human error could have…
Lloyd’s of London Sees ‘Large Loss’ Due to Suez Canal Blockage
LONDON—The blockage of the Suez Canal for nearly a week will result in a “large loss” for Lloyd’s of London, its chairman said on Wednesday, as the insurance market recorded a 900 million pound ($1.2 billion) pretax loss in 2020 due to the COVID-19 pandemic. The Canal is working to clear the backlog after the…
Traffic in Suez Canal Resumes After Stranded Ship Refloated
ISMAILIA, Egypt—Shipping was on the move again late on Monday in Egypt’s Suez Canal after a giant container ship which had been blocking the busy waterway for almost a week was refloated, with more than 400 ships waiting to pass through. After the 1,300-foot Ever Given was dislodged, 113 ships were expected to transit the…
NTD Business Full Broadcast (Mar. 29)
The massive ship blocking the Suez canal is finally free and back on its course. Hundreds of vessels start moving again. Investors breathe a sigh of relief for now as the forced liquidation of a New York based fund doesn’t upset broader markets. But is there still risk downstream? Personal bankruptcy rates plummet during the…
Giant Container Ship That Blocked Suez Canal Set Free
SUEZ, Egypt—Salvage teams on Monday set free a colossal container ship that has halted global trade through the Suez Canal, bringing an end to a crisis that for nearly a week had clogged one of the world’s most vital maritime arteries. Helped by the peak of high tide, a flotilla of tugboats managed to wrench…
Giant Container Ship That Blocked Suez Canal Finally Free
SUEZ, Egypt—Salvage teams on Monday freed a colossal container ship stuck for nearly a week in the Suez Canal, ending a crisis that had clogged one of the world’s most vital waterways and halted billions of dollars a day in maritime commerce. Helped by high tide, a flotilla of tugboats wrenched the bulbous bow of…
Ship Stuck in Suez Canal Refloated
CAIRO, Egypt—The stranded container ship blocking the Suez Canal for almost a week has been re-floated, Inchcape Shipping Services said on Monday. The ship is currently being secured, raising expectations the vital waterway could soon be reopened. The ship was successfully re-floated at 4:30 a.m. local time on a high tide, Inchcape, a global provider of marine…
Pentagon Spokesperson: Suez Canal Stoppage May Impact Transit of Navy Vessels
The grounded container ship-caused Suez Canal stoppage might impact the transit of U.S. military vessels, said a Pentagon spokesperson on Sunday. The more than 1,000-foot long Ever Given ship became jammed diagonally across a southern section of the canal in high winds about five days ago, which totally halted shipping traffic. The Suez Canal, located…
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