Written by Zulfick Farzan
28 Mar, 2021 | 7:54 pm
Egypt’s President Abdel Fattah al-Sisi has ordered preparations for lightening the cargo of the giant container ship grounded in the Suez Canal.
The 400-meter (430-yard) long Ever Given became jammed diagonally across a southern section of the canal in high winds more than five days ago, halting shipping traffic in one of the world’s busiest waterways.
As of Saturday, 321 boats were waiting to transit the canal, including dozens of container ships, bulk carriers and liquefied natural gas (LNG) or liquefied petroleum gas (LPG) vessels.
Shipping rates for oil product tankers nearly doubled after the ship became stranded, and the blockage has disrupted global supply chains, threatening costly delays for companies already dealing with COVID-19 restrictions.
If the blockage drags on, shippers may decide to reroute their cargoes around the Cape of Good Hope, adding about two weeks to journeys and extra fuel costs.
27 Mar, 2021 | 09:14 AM
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