Container Ship Stuck In Suez Canal Freed

Zachary HalaschakMarch 30, 20213min
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The container ship that had an extended stay in the Suez Canal is now free.

After nearly a week, the 200,000-ton behemoth known as Ever Given was dislodged on Monday morning, hours after officials said they made some progress.

“It is with utmost pleasure that we can confirm that the #Suez Canal Authority and staff have succeeded in re-floating M/V EVER GIVEN. She is currently underway to Great Bitter Lake. More information will follow on our profile. M/V EVER GIVEN is no longer #grounded,” the Leth Agencies said.

The ship was freed at about 3 p.m. local time with help from not just tugboats and dredgers, but also from the tide. Sunday had a full moon, causing the tide to be slightly higher. That extra boost of just a few inches coupled with the concentration of manpower was enough to break the vessel free from the banks of the Suez.

The ship got stuck last Tuesday when a powerful sandstorm packing winds in excess of 45 mph buffeted the ship and caused it to become lodged between the banks of the critical passageway. Since the incident, officials have been working to dislodge the vessel, but the supply chain disruption has cost billions of dollars every day.

The Ever Given was hauling nearly $10 billion in goods when it became lodged, although the costs to the global economy were much higher. The Suez handles 12% of all global trade, and by the time the vessel was finally freed on Monday, almost 500 ships had piled up waiting to get through.

Some ships opted to take the longer and costlier route around the Cape of Good Hope in Africa. Doing so can add up to two weeks to voyages and burns more than 800 metric tons of fuel for ships of the Ever Given’s size.

Tori K. Smith, a trade economist with the Heritage Foundation, told the Washington Examiner last week that one of the biggest issues if the ship were to be stuck for an extended period of time would be its impact on the global oil trade. Brent crude oil dropped more than 1% on Monday, shortly after the vessel was freed.

Author : Zachary Halaschak

Source : Washington Examiner : Container ship stuck in Suez Canal freed