Egypt: IMO Chief Congratulates Egypt On Refloating Ever Given Ship Successfully

FILE – Egypt's Suez Canal

Formal investigations into how the giant container ship Ever Given ran aground in the Suez Canal, shutting down shipping in the major global waterway for nearly a week, begin on Wednesday, a canal official told Reuters.

The giant container ship, MV Ever Given which became stuck in the Suez Canal appeared in newspapers and on the Internet across the world.

"The recent disruptions at Suez Canal, though already being resolved lately, could result in some delays in the movement of both exports and imports of the Philippines... that pass through the Suez Canal, as a result of the additional time taken for the longer route around the African continent, with the risk of some disruptions in some parts of the global supply chain", Rizal Commercial Banking Corp. It was reopened after the big cargo ship was towed in the direction of the Bitter Lakes on Monday.

Rabie said daily losses of the canal due to the six-day blockage caused by the Ever Given ship is estimated at 12-15 million USA dollars.

Linking the Mediterranean Sea with the Red Sea, the Suez Canal is a major lifeline for global seaborne trade since it allows ships to travel between Europe and South Asia without navigating around Africa, thereby reducing the sea voyage distance between Europe and India by about 7,000 km.

However, the SCA adviser complained in an interview with Egypt's ON TV on Tuesday that the vessel had failed to respond to an emailed request for it to send over all relevant documents.

The series of night-time images were all acquired with the Visible Infrared Imaging Radiometer Suite (VIIRS) on the Suomi NPP satellite that offers another view of ships waiting in the Gulf of Suez.

Rabie has suggested that the weather and human error could have played a role in grounding the Ever Given.

The incident is expected to give rise to flurry of insurance claims, with Lloyd's of London expecting a "large loss", possibly amounting to $100 million or more, according to its chairman.

"They are trying to rush ships through the canal, which will have knock-on effects at the ports that are their destinations because they will be congested".



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