Suez Canal remains blocked for day four with more than 270 ships waiting to cross: losses estimated at $ 9.6 billion per day

The Suez Canal remains blocked after the large container ship Ever Given failed on Tuesday, leaving more than 270 ships waiting to cross the passage between the Mediterranean Sea and the Red Sea. which has caused millions of losses for maritime transport, 10% of which pass through this route.

The Egyptian authorities are continuing their work to try to unblock the gigantic ship of 400 meters long and more than 200,000 tons of capacity, supported by the Japanese company Shoei Kisen, owner of the ship, which aims to unload the boat this Saturday.

However, There are fears that the blockade will last for days, if not weeks, with the economic cost it entails for the dozens of detained ships. and for companies that do not receive the goods at destination.

UNLOAD NEVER GIVEN

The Suez Canal Authority reported on Friday that 87% of the work has been carried out to dislodge Ever Given and some 17,000 cubic meters of sand have been removed, thanks to the dredge called “Mashhur”.

The machine started digging yesterday at a distance of 100 meters from the bow of the ship and today it is about 15 meters, and has also reached a depth of 15 meters, the Authority detailed in a statement.

Although it cannot approach more than 10 meters for safety reasons, the managing authority assured that “ground collapses” would occur after removing most of the sand surrounding the bulb.

While there have been several unsuccessful attempts to move the container ship with the tugs “Baraka 1” and “Ezzat Adel”, two additional tugs will join operations on March 28, according to the cargo management company, the multinational Bernhard. Schulte Shipmanagement (BSM).

In a statement sent to Efe, ensured that a company team responsible for supporting operations, called Smit Salvage, is on the ground and stressed that efforts are focused on removing sand and mud from the bow section, and that they will also pump water to reduce levels at certain points.

Ever Given ran aground on a side of the canal and crossed the southern section at kilometer 151 due to high winds and lack of visibility due to a sandstorm that hit Egypt earlier this week.

TAIL BOATS

With each passing day, more and more ships are anchored at the north and south entrances to the canal while waiting to be able to cross it: This Friday there are already 270, according to the company Leth Agencies, which offers logistics services in different channels and straits around the world.

Most of the ships, 107, are in the Suez region, where the port is congested and had to anchor in the gulf between mainland Egypt and the Sinai Peninsula, as satellite images show.

According to data from Leth agencies, out of the total number of vessels arrested, 64 are vessels of different products, in addition to 22 tankers and 53 container ships, the canal being one of the preferential routes for goods between Europe and Asia.

However, a container ship has already chosen to avoid the Suez Canal and go around the African continent, despite the fact that it still takes several days of navigation: this is the Ever Greet, “brother” of the ‘Ever Given also from the Taiwanese shipping company. Evergreen, according to London-based Lloyd’s List analytics service.

MILLIONAIRES LOST

Lloyd’s further estimated that the blockade of the canal results in a hold of goods worth about $ 9.6 billion per day, with traffic to the west valued at $ 5.1 billion and to the east at $ 4.5 billion per day.

On the other hand, a report prepared by analysts from the French insurer Euler Hermes, a subsidiary of the German group Allianz, estimates that closing the canal could cost world trade between $ 6 billion and $ 10 billion per week.

Likewise, it subtracts between 0.2 and 0.4 percentage point per week from expected trade growth in 2021 and represents the “last drop” of supply chain disruptions recorded since the start of the year. due to problems such as the shortage of containers or semiconductors.

Moody’s also stressed that the blockade of the chain “could not have happened at a worse time” since the supply chains are “very vulnerable” due to the global situation.

(With information from EFE)

KEEP READING: