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When you can’t shift a ship that’s stuck fast into the wall of a canal that’s vital to world trade, there’s only one thing to do: call the salvage guys.
Egypt’s Suez Canal: blockage halts trade of at least 6.3 million barrels of crude oil worth US$400 million
Liquefied natural gas, refined fuels and containers full of goods are among the cargo delayed after a huge ship blocked the Suez CanalThe artificial waterway in Egypt is one of the busiest trade routes in the world, carrying about 12 per cent of global trade by volume
TOKYO (Reuters) - Shoei Kisen, the Japanese owner of a container ship stuck in the Suez Canal that is holding up potentially billions of dollars of traded goods, apologized on Thursday and added that it was working towards a resolution of the situation.
SINGAPORE: Oil prices fell more than 2% as fresh coronavirus lockdowns revived worries about demand for oil products, even as tug boats struggled to move a stranded container ship blocking crude oil carriers in the Suez Canal.
KUALA LUMPUR: The FBM KLCI ended on the 1,600-point psychological level going into the lunch break as investors remained cautious over ongoing headwinds.
NEW YORK: Oil prices jumped about 6% on Wednesday after a ship ran aground in the Suez Canal, and worries that the incident could tie up crude shipments gave prices a boost after a slide over the last week.
LONDON (Reuters) - Dozens of ships carrying everything from oil to consumer goods have been delayed by the grounding of a vessel in the Suez Canal, and companies may have to re-route cargoes around Africa if the blockage extends beyond 24 hours, shipping sources said.
CAIRO (AFP): A giant container ship ran aground in the Suez Canal after a gust of wind blew it off course, the vessel's operator said Wednesday, bringing marine traffic to a halt along one of the world's busiest trade routes.
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