A large container ship ran aground in Egypt’s Suez Canal on March 23, choking traffic in both directions along the crucial international trade artery and created what is being referred to as the world’s largest shipping jam. Several attempts to refloat the 2.20 lakh tonne and 400 metre-long ship, named ‘Ever Given’ have reportedly failed.
The container vessel was on its way to Rotterdam, the Netherlands from China. It is owned by Taiwanese shipping company Evergreen Marine and has been registered in Panama. Ever Given is a large Golden-class container ship.
The ship that carries cargo between Asia and Europe, ran aground in the narrow, man-made Suez Canal dividing continental Africa from the Sinai Peninsula. Egyptian officials and others were due to begin work again to free the vessel Thursday morning after halting for the night.
The incident began on Tuesday when strong winds blasted in the region and kicked up sands along the banks. The narrow waterway and the difficulty in navigating due to poor visibility resulted in the crew losing control of the ship which careened sideways into a sandy embankment.
The Suez Canal
The Suez Canal is one of the most vital shipping routes in the world as it connects the Mediterranean Sea with the Red Sea. It helps ships travelling between Asia and Europe to avoid going around Africa and saving many days in the process. About 12% of global trade goes through the canal, making it so strategic that world powers have fought over the waterway since it was completed in 1869.
The situation has gotten so desperate that an elite salvage squad is due to arrive to work on the Ever Given from the bank of the canal, where it’s blocking oceangoing carriers that haul everything from oil to consumer goods.
Still, the best chance for freeing the ship may not come until Sunday or Monday, when the tide will reach a peak, said Nick Sloane, the salvage master responsible for refloating the Costa Concordia, the cruise ship that capsized on the coast of Italy in 2012.
The disruption comes at a time when oil prices are already volatile. Crude surged above $70 a barrel earlier this month on Saudi production cuts, only to slump close to $60 this week due to setbacks in Europe’s coronavirus vaccine program.
Getting around 500,000 barrels per day, India is the top importer of crude and products via the Suez Canal. India is followed by China (just over 400,000 barrels), South Korea, Singapore and the Netherlands.
