The container ship "Ever Given" has been blocking the Suez Canal for three days. An anecdotal shipwreck? Not really, because for thousands of companies and dozens of countries, this blockage represents an economic disaster.
The Panamanian vessel “Ever Given”, chartered by the Taiwanese company Evergreen, ran aground in the Suez Canal, blocking maritime traffic on a route which represents 12% of the world's freight transport. The “Ever Given” transported goods from several Chinese ports to Rotterdam, the Netherlands.
220 tonnes, 000 meters long and 400 meters wide… The container ship is a monster of the waters as we often see on the famous canal. It was carrying over 59 containers and got stuck in the sand. The dredging company said it would be a good idea to offload the vessel before continuing the refloating operation.
The Egyptian Suez Canal Authority SCA disagrees. She prefers a rapid resumption of navigation and has made available eight tugs which are currently in the process of redressing the “Ever Given”.
Because unloading the container ship could take weeks. With a significant butterfly effect: the prices of crude and the supply of oil to the planet. Just after this traffic jam caused by the “Ever Given”, oil prices jumped 5%. The Egyptian authorities therefore cannot afford to take their time to unclog the area.
Origins of the accident
The ship had two Egyptian Canal Authority pilots on board, so the crew could be guided, when the boat was stranded from early Tuesday morning. The Bernhard Schulte Shipmanagemenent (BSM), who takes care of the crew and technical issues, said all 25 crew members were safe and no damage to the cargo had been reported.
The accident is said to be due to weather conditions making navigation on the canal difficult: "From the early hours of Tuesday, Egypt was hit by a sandstorm, with strong winds reaching 40 knots," said the press release. the SCA. Taiwanese transport company Evergreen Marine, which manages the vessel, said it learned from the captain "that it is suspected that he was hit by a sudden strong wind, which deviated the hull, which then accidentally hit bottom. and ran aground ”.
Monster traffic jam
Lieutenant-General Ossama Rabei, head of the Suez Canal Authority, assures us that he “will spare no effort to ensure the restoration of navigation and serve the movement of world trade”. Because that is what it is all about: while the rescue operations began, the ships trapped behind the “Ever Given” returned south, to Port Suez, to free the canal.
The blockage could have a major effect on global shipping between the Mediterranean Sea and the Red Sea. Indeed, every additional day that the canal is closed, food, fuel and goods no longer circulate between Europe and the Far East.
In addition to the economic consequences, security experts have warned that ships currently idling in the Red Sea could be targets after a series of attacks on ships in the Middle East amid tensions between Iran and the states -United.
In terms of oil prices, the price of a barrel, at a standstill since 2014, rose to more than 63 dollars today, marking more than 5% of increase compared to Tuesday morning.