According to Suez Canal authority, the container ship that got stuck in the Canal in March was struggling to steer because of its high speed and the size of its rudder, and could have chosen not to enter the waterway in bad weather.

Suez Canal blames Ever Given container ship's grounding on speed, rudder size

Shipping was on the move again late on Monday in Egypt`s Suez Canal after tugs refloated a giant container ship which had been blocking the channel for almost a week, causing a huge build-up of vessels around the waterway. 
 
With the 400-metre-long (430-yard) Ever Given dislodged, 113 ships were expected to transit the canal in both directions by early Tuesday morning, Suez Canal Authority (SCA) chairman Osama Rabie told reporters. 
 
He said a backlog of 422 ships could be cleared in 3 -1/2 days. 
 
The Ever Given had become jammed diagonally across a southern section of the canal, the shortest shipping route between Europe and Asia, in high winds early on March 23. 
 
Evergreen Line, which is leasing the Ever Given, said the ship would be inspected for seaworthiness in the Great Bitter Lake, which separates two sections of the canal. 
 
"The ship was ready for limited navigation after an initial inspection and not a single container was damaged, but a second investigation will be more precise and if it was affected it will show," Rabie said. 
 
At dawn on Monday, rescue workers from the SCA working with a team from Dutch firm Smit Salvage partially refloated the ship and straightened it in the canal. After several hours it shifted briefly back across the canal before being manoeuvred free by tugs as the tide changed, a canal source said. 
 
"The time pressure to complete this operation was evident and unprecedented," said Peter Berdowski, CEO of Smit Salvage owner Boskalis, after the Ever Given was refloated. 
 
The company said approximately 30,000 cubic metres of sand had been dredged to refloat the 224,000-tonne container ship and a total of 11 tugs and two powerful sea tugs were used to pull the ship free. 
 
Bernhard Schulte Shipmanagement (BSM), the technical managers of the container ship, said there were no reports of pollution or cargo damage. 
 
QUEUE 
 
Vessels waiting to transit the canal include dozens of container ships, bulk carriers, oil tankers and liquefied natural gas (LNG) or liquefied petroleum gas (LPG) vessels, Nile TV reported. 
 
Rabie said that within four days, traffic would return to normal. "We`ll work day and night to end the backlog." 
 
Vessels similar in size to the Ever Given, which is one of the world`s largest container ships, could pass through the canal safely, he added, and the SCA would not change its policy on admitting such ships. 
 
Shipping group Maersk said the knock-on disruptions to global shipping could take weeks or months to unravel. 
 
Owners and charterers of delayed ships face at least $24 million in expenses they will be unable to recoup as their insurance policies do not cover them and cargo owners could also face uninsured losses, industry sources said. 
 
Egyptian President Abdel Fattah al-Sisi, who had not publicly commented on the blockage, said Egypt had ended the crisis and assured resumption of trade through the canal. 
 
Oil prices fell 1 percent after the ship was refloated while shares of Taiwan-listed Evergreen Marine Corp rose. 
 
About 15% of world shipping traffic transits the Suez Canal, which is an important source of foreign currency revenue for Egypt. The stoppage was costing the canal up to $15 million a day. 
 
Shipping rates for oil product tankers nearly doubled after the ship became stranded, and the blockage has disrupted global supply chains, threatening costly delays for companies already dealing with COVID-19 restrictions. 
 
Maersk was among shippers rerouting cargoes around the Cape of Good Hope, adding up to two weeks to journeys and extra fuel costs.

Shipping was on the move again late on Monday in Egypt`s Suez Canal after tugs refloated a giant container ship which had been blocking the channel for almost a week, causing a huge build-up of vessels around the waterway.

Shipping was on the move again late on Monday in Egypt`s Suez Canal after tugs refloated a giant container ship which had been blocking the channel for almost a week, causing a huge build-up of vessels around the waterway. With the 400-metre-long (430-yard) Ever Given dislodged, 113 ships were expected to transit the canal in both directions by early Tuesday morning, Suez Canal Authority (SCA) chairman Osama Rabie told reporters. He said a backlog of 422 ships could be cleared in 3 -1/2 days. The Ever Given had become jammed diagonally across a southern section of the canal, the shortest shipping route between Europe and Asia, in high winds early on March 23. Evergreen Line, which is leasing the Ever Given, said the ship would be inspected for seaworthiness in the Great Bitter Lake, which separates two sections of the canal. "The ship was ready for limited navigation after an initial inspection and not a single container was damaged, but a second investigation will be more precise and if it was affected it will show," Rabie said. At dawn on Monday, rescue workers from the SCA working with a team from Dutch firm Smit Salvage partially refloated the ship and straightened it in the canal. After several hours it shifted briefly back across the canal before being manoeuvred free by tugs as the tide changed, a canal source said. "The time pressure to complete this operation was evident and unprecedented," said Peter Berdowski, CEO of Smit Salvage owner Boskalis, after the Ever Given was refloated. The company said approximately 30,000 cubic metres of sand had been dredged to refloat the 224,000-tonne container ship and a total of 11 tugs and two powerful sea tugs were used to pull the ship free. Bernhard Schulte Shipmanagement (BSM), the technical managers of the container ship, said there were no reports of pollution or cargo damage. QUEUE Vessels waiting to transit the canal include dozens of container ships, bulk carriers, oil tankers and liquefied natural gas (LNG) or liquefied petroleum gas (LPG) vessels, Nile TV reported. Rabie said that within four days, traffic would return to normal. "We`ll work day and night to end the backlog." Vessels similar in size to the Ever Given, which is one of the world`s largest container ships, could pass through the canal safely, he added, and the SCA would not change its policy on admitting such ships. Shipping group Maersk said the knock-on disruptions to global shipping could take weeks or months to unravel. Owners and charterers of delayed ships face at least $24 million in expenses they will be unable to recoup as their insurance policies do not cover them and cargo owners could also face uninsured losses, industry sources said. Egyptian President Abdel Fattah al-Sisi, who had not publicly commented on the blockage, said Egypt had ended the crisis and assured resumption of trade through the canal. Oil prices fell 1 percent after the ship was refloated while shares of Taiwan-listed Evergreen Marine Corp rose. About 15% of world shipping traffic transits the Suez Canal, which is an important source of foreign currency revenue for Egypt. The stoppage was costing the canal up to $15 million a day. Shipping rates for oil product tankers nearly doubled after the ship became stranded, and the blockage has disrupted global supply chains, threatening costly delays for companies already dealing with COVID-19 restrictions. Maersk was among shippers rerouting cargoes around the Cape of Good Hope, adding up to two weeks to journeys and extra fuel costs.

Traffic in Suez Canal resumes after stranded ship refloated

With hopes rising that the partial refloating of the Ever Given means the Suez Canal will soon reopen for business, shipping analysts cautioned that it will take time — perhaps days — for the hundreds of ships now waiting for passage to continue their journeys.

Shipping analysts estimated the colossal traffic jam was holding up nearly $10 billion in trade every day.

“All global retail trade moves in containers, or 90% of it,” said Alan Murphy, the founder of Sea-Intelligence, a maritime data and analysis firm. “Name any brand name, and they will be stuck on one of those vessels.”

The Syrian government said over the weekend that it will begin rationing the use of fuel after the closure of the Suez Canal delayed the delivery of a critical shipment of oil to the war-torn nation.

And in Lebanon, which in recent months has suffered blackouts amid an economic and political crisis, local media were reporting that the country’s shaky fuel supply risks further disruption if the blockage continues.

With the backlog of ships now stuck outside the canal growing to more than 300 on Sunday, the threat to the oil supplies in those two countries was an early indication of how quickly the disruption to the smooth functioning of global trade could ripple outward and cause real-world pain.

Virtually every container ship making the journey from factories in Asia to consumer markets in Europe passes through the channel. So do tankers laden with oil and natural gas.

The shutdown of the canal is affecting as much as 15% of the world’s container shipping capacity, according to Moody’s Investor Service, leading to delays at ports around the globe. Tankers carrying 9.8 million barrels of crude, about a tenth of a day’s global consumption, are now waiting to enter the canal, estimates Kpler, a firm that tracks petroleum shipping.

The Syrian Ministry of Petroleum and Mineral Resources said the blockage of the canal had “hindered the oil supplies to Syria and delayed arrival of a tanker carrying oil and oil derivations to Syria.”

Rationing was needed, the ministry said in a statement, “in order to guarantee the continued supply of basic services to Syrians such as bakeries, hospitals, water stations, communication centers, and other vital institutions.”

With hopes rising that the partial refloating of the Ever Given means the Suez Canal will soon reopen for business, shipping analysts cautioned that it will take time — perhaps days — for the hundreds of ships now waiting for passage to continue their journeys.

With hopes rising that the partial refloating of the Ever Given means the Suez Canal will soon reopen for business, shipping analysts cautioned that it will take time — perhaps days — for the hundreds of ships now waiting for passage to continue their journeys. Shipping analysts estimated the colossal traffic jam was holding up nearly $10 billion in trade every day. “All global retail trade moves in containers, or 90% of it,” said Alan Murphy, the founder of Sea-Intelligence, a maritime data and analysis firm. “Name any brand name, and they will be stuck on one of those vessels.” The Syrian government said over the weekend that it will begin rationing the use of fuel after the closure of the Suez Canal delayed the delivery of a critical shipment of oil to the war-torn nation. And in Lebanon, which in recent months has suffered blackouts amid an economic and political crisis, local media were reporting that the country’s shaky fuel supply risks further disruption if the blockage continues. With the backlog of ships now stuck outside the canal growing to more than 300 on Sunday, the threat to the oil supplies in those two countries was an early indication of how quickly the disruption to the smooth functioning of global trade could ripple outward and cause real-world pain. Virtually every container ship making the journey from factories in Asia to consumer markets in Europe passes through the channel. So do tankers laden with oil and natural gas. The shutdown of the canal is affecting as much as 15% of the world’s container shipping capacity, according to Moody’s Investor Service, leading to delays at ports around the globe. Tankers carrying 9.8 million barrels of crude, about a tenth of a day’s global consumption, are now waiting to enter the canal, estimates Kpler, a firm that tracks petroleum shipping. The Syrian Ministry of Petroleum and Mineral Resources said the blockage of the canal had “hindered the oil supplies to Syria and delayed arrival of a tanker carrying oil and oil derivations to Syria.” Rationing was needed, the ministry said in a statement, “in order to guarantee the continued supply of basic services to Syrians such as bakeries, hospitals, water stations, communication centers, and other vital institutions.”

Even after canal is cleared, ending backlog of will take time

A colossal container ship&nbsp;blocking Egypt's Suez Canal for nearly a week has been partially refloated, the Suez Canal Authority (SCA) said on Monday.

An official from Shoei Kisen said the skyscraper-sized Ever Given was "stuck at an angle of 30 degrees towards the canal but that has eased," adding that the ship "has turned" but it "is not afloat."

The SCA&nbsp;said Ever Given has been straightened in the canal and further tugging operations would resume once the tide rises later on Monday. Marine traffic through the canal will resume once the ship is directed to the lakes area, a wider section of the canal, it added.

A video posted on social media appeared to show the ship's stern had swung around, opening space in the canal.

The 400 metre (430 yard) long Ever Given became wedged diagonally across a southern section of the canal amid high winds early on Tuesday, blocking one of the world's busiest waterways.&nbsp;The obstruction is holding up $9 billion each day in global trade and straining supply chains already burdened by the coronavirus pandemic.

About 15 per cent of world shipping traffic transits the canal and hundreds of vessels are waiting to pass once the blockage is cleared.

At least 369 vessels were waiting to transit the canal, including dozens of container ships, bulk carriers, oil tankers and liquefied natural gas (LNG) or liquefied petroleum gas (LPG) vessels, SCA Chairman Osama Rabie told Egypt`s Extra News on Sunday.

Rabie earlier said he hoped it would not be necessary to remove some of the 18,300 containers to lighten the ship's load, but that strong tides and winds were complicating efforts to free it.

Tugging attempts restarted on Saturday afternoon and further efforts were planned on Saturday night and Sunday morning, SCA sources said, though they added it could be necessary to remove more sand from around the ship to free it. The Suez Canal Authority had earlier said in a statement that tugging operations to free the ship had resumed.

<a href="https://www.wionews.com/world/russia-offers-to-help-egypt-in-freeing-the-suez-canal-ship-373927">Also read |&nbsp;Russia offers to help Egypt in freeing Suez Canal ship</a>

Dredgers removed some 20,000 tonnes of sand from around its bow by Friday. A Dutch firm working to free the vessel said it could be freed by the start of next week if heavier tugboats, dredging and a high tide succeed in dislodging it.

Egyptian Prime Minister Mostafa Madbouly on Saturday thanked foreign partners for offers to help refloat the ship.

Fourteen tugs had been involved in efforts to refloat the Ever Given till Saturday.

Shipping rates for oil product tankers nearly doubled after the ship became stranded, and the blockage has disrupted global supply chains, threatening costly delays for companies already dealing with COVID-19 restrictions.

(The headline and the text of the story have been edited to accommodate the statement by the marine services firm.)

A colossal container ship blocking Egypt's Suez Canal for nearly a week has been partially refloated, the Suez Canal Authority (SCA) said on Monday. An official from Shoei Kisen said the skyscraper-sized Ever Given was "stuck at an angle of 30 degrees towards the canal but that has eased," adding that the ship "has turned" but it "is not afloat.

A colossal container ship blocking Egypt's Suez Canal for nearly a week has been partially refloated, the Suez Canal Authority (SCA) said on Monday. An official from Shoei Kisen said the skyscraper-sized Ever Given was "stuck at an angle of 30 degrees towards the canal but that has eased," adding that the ship "has turned" but it "is not afloat." The SCA said Ever Given has been straightened in the canal and further tugging operations would resume once the tide rises later on Monday. Marine traffic through the canal will resume once the ship is directed to the lakes area, a wider section of the canal, it added. A video posted on social media appeared to show the ship's stern had swung around, opening space in the canal. The 400 metre (430 yard) long Ever Given became wedged diagonally across a southern section of the canal amid high winds early on Tuesday, blocking one of the world's busiest waterways. The obstruction is holding up $9 billion each day in global trade and straining supply chains already burdened by the coronavirus pandemic. About 15 per cent of world shipping traffic transits the canal and hundreds of vessels are waiting to pass once the blockage is cleared. At least 369 vessels were waiting to transit the canal, including dozens of container ships, bulk carriers, oil tankers and liquefied natural gas (LNG) or liquefied petroleum gas (LPG) vessels, SCA Chairman Osama Rabie told Egypt`s Extra News on Sunday. Rabie earlier said he hoped it would not be necessary to remove some of the 18,300 containers to lighten the ship's load, but that strong tides and winds were complicating efforts to free it. Tugging attempts restarted on Saturday afternoon and further efforts were planned on Saturday night and Sunday morning, SCA sources said, though they added it could be necessary to remove more sand from around the ship to free it. The Suez Canal Authority had earlier said in a statement that tugging operations to free the ship had resumed. Also read | Russia offers to help Egypt in freeing Suez Canal ship Dredgers removed some 20,000 tonnes of sand from around its bow by Friday. A Dutch firm working to free the vessel said it could be freed by the start of next week if heavier tugboats, dredging and a high tide succeed in dislodging it. Egyptian Prime Minister Mostafa Madbouly on Saturday thanked foreign partners for offers to help refloat the ship. Fourteen tugs had been involved in efforts to refloat the Ever Given till Saturday. Shipping rates for oil product tankers nearly doubled after the ship became stranded, and the blockage has disrupted global supply chains, threatening costly delays for companies already dealing with COVID-19 restrictions. (The headline and the text of the story have been edited to accommodate the statement by the marine services firm.)

Stranded ship blocking Suez Canal partially refloated, more work needed

Efforts to dislodge a giant container ship blocking the Suez Canal have allowed its stern and rudder to move, but it remains unclear when it can be refloated, the head of the canal authority said on Saturday. 
 
The 400 metre (430 yard) long Ever Given became wedged diagonally across a southern section of the canal amid high winds early on Tuesday, blocking one of the world`s busiest waterways. 
 
About 15% of world shipping traffic transits the canal and hundreds of vessels are waiting to pass once the blockage has been cleared. 
 
Suez Canal Authority (SCA) Chairman Osama Rabie said he hoped it would not be necessary to remove some of the 18,300 containers to lighten the ship`s load, but that strong tides and winds were complicating efforts to free it. 
 
"The ship`s stern began to move towards Suez, and that was a positive sign until 11 p.m. (2100 GMT) at night, but the tide fell significantly and we stopped," Rabie told journalists in Suez. 
 
"We expect that at any time the ship could slide and move from the spot it is in." 
 
Dredgers removed some 20,000 tonnes of sand from around its bow by Friday. A Dutch firm working to free the vessel said it could be freed by the start of next week if heavier tugboats, dredging and a high tide succeed in dislodging it. 
 
Tugging attempts restarted on Saturday afternoon and further efforts were planned on Saturday night and Sunday morning, SCA sources said, though they added it could be necessary to remove more sand from around the ship to free it. 
 
Two SCA sources said there had been further, minor progress in dislodging the ship on Saturday. One source said there had been some movement at the bow of the ship. 
 
"When dealing with a ship of this size, its behaviour with the dredgers is unknown, we don`t know how it will respond to the pulling," said Rabie. 
 
The head of Boskalis, parent company of Dutch firm Smit Salvage which has been brought in to help the SCA, said heavy tugboats with a combined capacity of 400 tonnes would arrive sometime this weekend. 
 
REALLY STUCK 
 
"We aim to get it done after the weekend, but everything will have to work out exactly right for that," Boskalis Chief Executive Peter Berdowski told Dutch TV programme Nieuwsuur late on Friday. 
 
"The bow is really stuck in the sandy clay, but the stern has not been pushed totally into the clay, which is positive. We can try to use that as leverage to pull it loose," Berdowski said. 
 
Egyptian Prime Minister Mostafa Madbouly on Saturday thanked foreign partners for offers to help refloat the ship. 
 
Shipping rates for oil product tankers nearly doubled after the ship became stranded, and the blockage has disrupted global supply chains, threatening costly delays for companies already dealing with COVID-19 restrictions. 
 
If it drags on, shippers may decide to reroute around the Cape of Good Hope, adding about two weeks to journeys and extra fuel costs. Rabie said the ships that are waiting were free to reroute around the Cape, but none had yet done so. 
 
He said 321 vessels were waiting to enter or continue their transit through the canal. Those included dozens of container ships, bulk carriers and liquefied natural gas (LNG) or liquefied petroleum gas (LPG) vessels, according to a shipping source. 
 
Fourteen tugs have so far been involved in efforts to refloat the Ever Given, although Boskalis and Smit Salvage have warned that using too much force to tug the ship could damage it. 
 
Berdowski said a land crane would be brought in at the weekend which could lighten the Ever Given`s load by removing containers, though experts have warned that such a process could be complex and lengthy. 
 
"If we don`t succeed in getting it loose next week, we will have to remove some 600 containers from the bow to reduce the weight," he said. "That will set us back days at least, because where to leave all those containers will be quite a puzzle." 
 
Rabie said empty container ships with cranes could offload containers.

Efforts to dislodge a giant container ship blocking the Suez Canal have allowed its stern and rudder to move, but it remains unclear when it can be refloated, the head of the canal authority said on Saturday.

Efforts to dislodge a giant container ship blocking the Suez Canal have allowed its stern and rudder to move, but it remains unclear when it can be refloated, the head of the canal authority said on Saturday. The 400 metre (430 yard) long Ever Given became wedged diagonally across a southern section of the canal amid high winds early on Tuesday, blocking one of the world`s busiest waterways. About 15% of world shipping traffic transits the canal and hundreds of vessels are waiting to pass once the blockage has been cleared. Suez Canal Authority (SCA) Chairman Osama Rabie said he hoped it would not be necessary to remove some of the 18,300 containers to lighten the ship`s load, but that strong tides and winds were complicating efforts to free it. "The ship`s stern began to move towards Suez, and that was a positive sign until 11 p.m. (2100 GMT) at night, but the tide fell significantly and we stopped," Rabie told journalists in Suez. "We expect that at any time the ship could slide and move from the spot it is in." Dredgers removed some 20,000 tonnes of sand from around its bow by Friday. A Dutch firm working to free the vessel said it could be freed by the start of next week if heavier tugboats, dredging and a high tide succeed in dislodging it. Tugging attempts restarted on Saturday afternoon and further efforts were planned on Saturday night and Sunday morning, SCA sources said, though they added it could be necessary to remove more sand from around the ship to free it. Two SCA sources said there had been further, minor progress in dislodging the ship on Saturday. One source said there had been some movement at the bow of the ship. "When dealing with a ship of this size, its behaviour with the dredgers is unknown, we don`t know how it will respond to the pulling," said Rabie. The head of Boskalis, parent company of Dutch firm Smit Salvage which has been brought in to help the SCA, said heavy tugboats with a combined capacity of 400 tonnes would arrive sometime this weekend. REALLY STUCK "We aim to get it done after the weekend, but everything will have to work out exactly right for that," Boskalis Chief Executive Peter Berdowski told Dutch TV programme Nieuwsuur late on Friday. "The bow is really stuck in the sandy clay, but the stern has not been pushed totally into the clay, which is positive. We can try to use that as leverage to pull it loose," Berdowski said. Egyptian Prime Minister Mostafa Madbouly on Saturday thanked foreign partners for offers to help refloat the ship. Shipping rates for oil product tankers nearly doubled after the ship became stranded, and the blockage has disrupted global supply chains, threatening costly delays for companies already dealing with COVID-19 restrictions. If it drags on, shippers may decide to reroute around the Cape of Good Hope, adding about two weeks to journeys and extra fuel costs. Rabie said the ships that are waiting were free to reroute around the Cape, but none had yet done so. He said 321 vessels were waiting to enter or continue their transit through the canal. Those included dozens of container ships, bulk carriers and liquefied natural gas (LNG) or liquefied petroleum gas (LPG) vessels, according to a shipping source. Fourteen tugs have so far been involved in efforts to refloat the Ever Given, although Boskalis and Smit Salvage have warned that using too much force to tug the ship could damage it. Berdowski said a land crane would be brought in at the weekend which could lighten the Ever Given`s load by removing containers, though experts have warned that such a process could be complex and lengthy. "If we don`t succeed in getting it loose next week, we will have to remove some 600 containers from the bow to reduce the weight," he said. "That will set us back days at least, because where to leave all those containers will be quite a puzzle." Rabie said empty container ships with cranes could offload containers.

Ship blocking Suez Canal moves slightly, unclear when it will refloat

Dredging and tugging aimed at freeing a mega vessel stuck in the Suez Canal failed on Friday to end a blockage that has lifted shipping rates for fuel tankers and scrambled global supply chains for everything from grains to baby clothes. 
 
US&nbsp;President Joe Biden said his administration was looking at what it could do to help, after the 400-metre (430-yard) long Ever Given ran aground in the vital trade waterway on Tuesday due to strong wind. 
 
"We have equipment and capacity that most countries don’t have. And we are seeing what help we can be," Biden told reporters in Delaware. 
 
A U.S. official, speaking on the condition of anonymity, said the Navy was prepared to send a team of dredging experts to the canal, but was awaiting approval from local authorities. 
 
The latest effort to dislodge the ship with tug boats was suspended late on Friday, and attempts would resume on Saturday, three sources at the canal said. The Suez Canal Authority (SCA) could not immediately be reached for comment. 
 
Shipping rates for oil product tankers nearly doubled after the ship became stranded, and efforts to free the giant vessel may take weeks and be complicated by unstable weather, threatening costly delays for companies already dealing with COVID-19 restrictions. 
 
All its 25 crew members, who have remained on board, were safe, in good health and spirits, Bernhard Schulte Shipmanagement (BSM), the Ever Given`s technical manager said. 
 
A Dutch rescue team had confirmed two additional tugs would arrive on March 28 to help dislodge the ship, BSM said. 
 
"There have been no reports of pollution or cargo damage and initial investigations rule out any mechanical or engine failure as a cause of the grounding," a BSM statement said. 
 
Earlier, the SCA said efforts to free the ship by tug had resumed following the completion of dredging operations at its bow to remove 20,000 cubic metres of sand. 
 
"The tugging operations require the availability of a number of supporting factors including wind direction and tides, which makes it a complex technical process," the authority said. 
 
The SCA welcomed a U.S. offer to help. Turkey also said it can send a vessel to the canal, amid a push by Ankara to repair ties with Egypt after years of animosity. 
 
The suspension of traffic along the channel linking Europe and Asia has deepened problems for shipping lines. 
 
The blockage could cost global trade $6 billion to $10 billion a week, a study by German insurer Allianz showed on Friday. 
 
Ratings agency Moody`s expects Europe`s manufacturing and car parts suppliers to be most affected because they operate "just-in-time" supply chains, and said port congestion and further delays to the supply chain were "inevitable." 
 
IMPACT ON OIL 
 
Retired British Royal Navy commander Tom Sharpe said the best bet for the next attempt would be a high tide on Sunday, but because the ship was aground both front and rear there was a risk the hull could rupture if rescuers pulled too hard. 
 
Mohab Mamish, the Egyptian presidential adviser on Suez Canal projects and sea ports, told MBC Misr TV a floating crane should be used to transfer some of the Ever Given`s containers to another ship to lighten the vessel and enable it to float. 
 
About two dozen ships could be seen from the shores of Port Said on Friday morning, according to a Reuters witness. 
 
Oil rose over 3% on Friday as more than 30 oil tankers have been waiting on either side of the canal since Tuesday, shipping data on Refinitiv showed. However, there is low seasonal demand for crude and liquefied natural gas, which will likely mitigate the impact on prices, analysts said. 
 
About 4 million barrels of mostly Kazakh CPC Blend and some Russian Urals were waiting along with tankers carrying Libyan, Azeri and some North Sea crude oil for Asian refiners, traders said. 
 
Egypt`s SUMED pipeline operator approached crude traders to see whether they wanted to book space in the system but so far traders prefer to wait to avoid high additional costs. 
 
Analysts expect a greater price impact on smaller tankers carrying oil products, such as naphtha and fuel oil, for export from Europe to Asia, if the canal remains shut for weeks. 
 
Re-routing ships around the Cape of Good Hope could add about two weeks and extra fuel costs to the voyage, said Sri Paravaikkarasu, director for Asia oil at FGE. 
 
The blockage is weighing on the already weak Asian gasoil, or diesel, market. More than 60% of Asian exports to the west flowed via the choked Canal in 2020, according to FGE. 
 
Aframax and Suezmax rates in the Mediterranean have also reacted as the market starts to price in fewer vessels being available in the region, shipbroker Braemar ACM Shipbroking said. 
 
At least four Long-Range 2 tankers that might have been headed toward Suez from the Atlantic basin are now likely to be evaluating a passage around the Cape of Good Hope, Braemar ACM said. Each LR-2 tanker can carry around 75,000 tonnes of oil. 
 
The cost of shipping clean products, such as gasoline and diesel, from the Russian port of Tuapse on the Black Sea to southern France jumped 73% over the last three days to $2.58 a barrel on March 25, according to Refinitiv Eikon data. 
 
The shipping index benchmark for LR2 vessels from the Middle East to Japan, known as TC1, has climbed by a third since last week to 137.5 worldscale points, said Anoop Jayaraj, clean tanker broker at Fearnleys Singapore. Worldscale is an industry tool used to calculate freight rates. 
 
On the crude side, traders have had to pay 10-20% more for replacement tankers but market freight rates have not yet risen as charterers are not ready to commit to higher levels in case the container is freed this weekend, shipbrokers said.

Dredging and tugging aimed at freeing a mega vessel stuck in the Suez Canal failed on Friday to end a blockage that has lifted shipping rates for fuel tankers and scrambled global supply chains for everything from grains to baby clothes.

Dredging and tugging aimed at freeing a mega vessel stuck in the Suez Canal failed on Friday to end a blockage that has lifted shipping rates for fuel tankers and scrambled global supply chains for everything from grains to baby clothes. US President Joe Biden said his administration was looking at what it could do to help, after the 400-metre (430-yard) long Ever Given ran aground in the vital trade waterway on Tuesday due to strong wind. "We have equipment and capacity that most countries don’t have. And we are seeing what help we can be," Biden told reporters in Delaware. A U.S. official, speaking on the condition of anonymity, said the Navy was prepared to send a team of dredging experts to the canal, but was awaiting approval from local authorities. The latest effort to dislodge the ship with tug boats was suspended late on Friday, and attempts would resume on Saturday, three sources at the canal said. The Suez Canal Authority (SCA) could not immediately be reached for comment. Shipping rates for oil product tankers nearly doubled after the ship became stranded, and efforts to free the giant vessel may take weeks and be complicated by unstable weather, threatening costly delays for companies already dealing with COVID-19 restrictions. All its 25 crew members, who have remained on board, were safe, in good health and spirits, Bernhard Schulte Shipmanagement (BSM), the Ever Given`s technical manager said. A Dutch rescue team had confirmed two additional tugs would arrive on March 28 to help dislodge the ship, BSM said. "There have been no reports of pollution or cargo damage and initial investigations rule out any mechanical or engine failure as a cause of the grounding," a BSM statement said. Earlier, the SCA said efforts to free the ship by tug had resumed following the completion of dredging operations at its bow to remove 20,000 cubic metres of sand. "The tugging operations require the availability of a number of supporting factors including wind direction and tides, which makes it a complex technical process," the authority said. The SCA welcomed a U.S. offer to help. Turkey also said it can send a vessel to the canal, amid a push by Ankara to repair ties with Egypt after years of animosity. The suspension of traffic along the channel linking Europe and Asia has deepened problems for shipping lines. The blockage could cost global trade $6 billion to $10 billion a week, a study by German insurer Allianz showed on Friday. Ratings agency Moody`s expects Europe`s manufacturing and car parts suppliers to be most affected because they operate "just-in-time" supply chains, and said port congestion and further delays to the supply chain were "inevitable." IMPACT ON OIL Retired British Royal Navy commander Tom Sharpe said the best bet for the next attempt would be a high tide on Sunday, but because the ship was aground both front and rear there was a risk the hull could rupture if rescuers pulled too hard. Mohab Mamish, the Egyptian presidential adviser on Suez Canal projects and sea ports, told MBC Misr TV a floating crane should be used to transfer some of the Ever Given`s containers to another ship to lighten the vessel and enable it to float. About two dozen ships could be seen from the shores of Port Said on Friday morning, according to a Reuters witness. Oil rose over 3% on Friday as more than 30 oil tankers have been waiting on either side of the canal since Tuesday, shipping data on Refinitiv showed. However, there is low seasonal demand for crude and liquefied natural gas, which will likely mitigate the impact on prices, analysts said. About 4 million barrels of mostly Kazakh CPC Blend and some Russian Urals were waiting along with tankers carrying Libyan, Azeri and some North Sea crude oil for Asian refiners, traders said. Egypt`s SUMED pipeline operator approached crude traders to see whether they wanted to book space in the system but so far traders prefer to wait to avoid high additional costs. Analysts expect a greater price impact on smaller tankers carrying oil products, such as naphtha and fuel oil, for export from Europe to Asia, if the canal remains shut for weeks. Re-routing ships around the Cape of Good Hope could add about two weeks and extra fuel costs to the voyage, said Sri Paravaikkarasu, director for Asia oil at FGE. The blockage is weighing on the already weak Asian gasoil, or diesel, market. More than 60% of Asian exports to the west flowed via the choked Canal in 2020, according to FGE. Aframax and Suezmax rates in the Mediterranean have also reacted as the market starts to price in fewer vessels being available in the region, shipbroker Braemar ACM Shipbroking said. At least four Long-Range 2 tankers that might have been headed toward Suez from the Atlantic basin are now likely to be evaluating a passage around the Cape of Good Hope, Braemar ACM said. Each LR-2 tanker can carry around 75,000 tonnes of oil. The cost of shipping clean products, such as gasoline and diesel, from the Russian port of Tuapse on the Black Sea to southern France jumped 73% over the last three days to $2.58 a barrel on March 25, according to Refinitiv Eikon data. The shipping index benchmark for LR2 vessels from the Middle East to Japan, known as TC1, has climbed by a third since last week to 137.5 worldscale points, said Anoop Jayaraj, clean tanker broker at Fearnleys Singapore. Worldscale is an industry tool used to calculate freight rates. On the crude side, traders have had to pay 10-20% more for replacement tankers but market freight rates have not yet risen as charterers are not ready to commit to higher levels in case the container is freed this weekend, shipbrokers said.

Suez Canal steps up efforts to free stuck vessel as energy markets impacted

Positive news came from Suez canal on Saturday as the Dutch salvage firm said that the stuck ship will be freed from the canal bed early next week. Billions of dollars are at stake as shipping through Suez canal, a vital sea-route between East and West has stopped due the ship. Shipping companies have been forced to re-route traffic around the southern tip of Africa.

The president of Shoei Kisen -- the Japanese firm which owns the giant container vessel sounded more optimistic as he said that the vessel will be freed on Saturday itself.

Meanwhile, Egypt's Suez Canal Authority chief has said that strong wind was not the main reason for grounding of the ship

"Strong winds and weather factors were not the main reasons for the ship's grounding, there may have been technical or human errors," Osama Rabie said at a press conference in Suez.

Billions of dollars of cargo are now stalled at either end of the vital shipping lane between Asia and Europe, with their owners mulling whether to wait it out or take the longer and more expensive route around the Cape of Good Hope at the cost of up to 12 additional days at sea.

The MV Ever Given, which is longer than four football fields, has been wedged diagonally across the span of the canal since Tuesday, blocking the waterway in both directions.

At a press conference in Japan Friday, Shoei Kisen president Yukito Higaki told local media there were no signs of damage to its engines and various instruments.

"The ship is not taking water. There is no problem with its rudders and propellers. Once it refloats, it should be able to operate," Higaki said, according to the Asahi Shimbun.

The company aims to free the ship "tomorrow night Japan time", he added, the Nikkei news agency said.

"We are continuing work to remove sediment as of now, with additional dredging tools."

In the Netherlands, the executive director of Royal Boskalis, parent company of Smit Salvage, set a less demanding target.

"With the ships we'll have in place by then, the earth we've managed to dredge, and the high tide, let's hope that'll be enough to budge the ship at the start of next week," Peter Berdowski told a public television chat-show late Friday.

"We are already in the process of installing a crane on land. That will allow us to eventually remove all the containers from the foredeck, which could involve hundreds of containers."&nbsp;

The blockage has caused a huge traffic jam of more than 200 ships at both ends of the 193-kilometre (120-mile) long canal and major delays in the delivery of oil and other products.

(With AFP inputs)

Positive news came from Suez canal on Saturday as the Dutch salvage firm said that the stuck ship will be freed from the canal bed early next week. Billions of dollars are at stake as shipping through Suez canal, a vital sea-route between East and West has stopped due the ship.

Positive news came from Suez canal on Saturday as the Dutch salvage firm said that the stuck ship will be freed from the canal bed early next week. Billions of dollars are at stake as shipping through Suez canal, a vital sea-route between East and West has stopped due the ship. Shipping companies have been forced to re-route traffic around the southern tip of Africa. The president of Shoei Kisen -- the Japanese firm which owns the giant container vessel sounded more optimistic as he said that the vessel will be freed on Saturday itself. Meanwhile, Egypt's Suez Canal Authority chief has said that strong wind was not the main reason for grounding of the ship "Strong winds and weather factors were not the main reasons for the ship's grounding, there may have been technical or human errors," Osama Rabie said at a press conference in Suez. Billions of dollars of cargo are now stalled at either end of the vital shipping lane between Asia and Europe, with their owners mulling whether to wait it out or take the longer and more expensive route around the Cape of Good Hope at the cost of up to 12 additional days at sea. The MV Ever Given, which is longer than four football fields, has been wedged diagonally across the span of the canal since Tuesday, blocking the waterway in both directions. At a press conference in Japan Friday, Shoei Kisen president Yukito Higaki told local media there were no signs of damage to its engines and various instruments. "The ship is not taking water. There is no problem with its rudders and propellers. Once it refloats, it should be able to operate," Higaki said, according to the Asahi Shimbun. The company aims to free the ship "tomorrow night Japan time", he added, the Nikkei news agency said. "We are continuing work to remove sediment as of now, with additional dredging tools." In the Netherlands, the executive director of Royal Boskalis, parent company of Smit Salvage, set a less demanding target. "With the ships we'll have in place by then, the earth we've managed to dredge, and the high tide, let's hope that'll be enough to budge the ship at the start of next week," Peter Berdowski told a public television chat-show late Friday. "We are already in the process of installing a crane on land. That will allow us to eventually remove all the containers from the foredeck, which could involve hundreds of containers." The blockage has caused a huge traffic jam of more than 200 ships at both ends of the 193-kilometre (120-mile) long canal and major delays in the delivery of oil and other products. (With AFP inputs)

Suez canal blockage: Ship may be freed early next week, says salvage firm