Suez Canal blockage

Giant Ship Stuck in the Suez Canal Is Finally Free, 357 Vessels Pass Across

The Suez Canal is set to resume operations today after the 20,388 teu Ever Given was re-floated overnight, reports the Loadstar.

Ship refloated!

While the vessel’s bow remained stuck on one side of the waterway yesterday morning, the high spring tide yesterday afternoon allowed salvors to re-float the entire ship and unblock the waterway after a week of closure.

According to the Suez Canal Authority (SCA), the vessel will now be towed to the Bitter Lakes area for technical inspections, opening up...

https://mfame.guru/giant-ship-stuck-in-the-suez-canal-is-finally-free-357-vessels-pass-across/

LNG Spot Shipping Market To Stay Strong Amid the Suez Canal Incident

The overnight running aground of the containership, Ever Given, on both sides of the Suez Canal is unlikely to have a major impact on the LNG spot shipping market, reports ICIS.

LNG spot shipping market

“Not really,” answered a shipbroker when asked whether the grounding of the Ever Given, a 200,000 tonne ship operated by Evergreen, would affect the LNG spot shipping market.

A spot voyage from Qatar into Northwest Europe takes around 16 days via the Suez, while going around the Cape of Good Hope...

https://mfame.guru/lng-spot-shipping-market-to-stay-strong-amid-the-suez-canal-incident/

Asian LR2 Tanker Premium Roll Back Amid Suez Canal Crisis

  • LR rates hit new 2021 highs
  • East bound naphtha cargoes stuck
  • West bound gasoil, jet fuel delayed

Long Range 2, or LR2, clean tankers rates across Asia have flipped to a premium in Worldscale points over the LR1s for the first time in 10 weeks as supply tightens and uncertainty rises over the delays for ships to cross the Suez Canal, reports Platts.

Bullish market

An already bullish scenario has been exacerbated by the traffic disruption in the Suez Canal where more than a dozen LRs are waiting...

https://mfame.guru/asian-lr2-tanker-premium-roll-back-amid-suez-canal-crisis/

High Tides in Suez Creates Hope To Move Cargo Ship

  • Salvage teams are girding for another attempt to free the Ever Given container ship that has been blocking the Suez Canal for five days.
  • hoping that a higher-than-usual spring tide will help them unstick the 1,300-foot vessel from the east side of the channel.
  • But their rescue efforts could be complicated by damage to the vessel’s bow.

A Wall Street Journal news written by Costas Paris and Rory Jones reveals that high tide in Suez Canal raises hopes of freeing cargo ship.

Water in two forward...

https://mfame.guru/high-tides-in-suez-creates-hope-to-move-cargo-ship/

Stranded Livestock Could Die If ‘Suez Block’ Persists, NGO Warns

As efforts to dislodge the huge container ship stuck in the Suez Canal intensified Saturday, an animal-rights nonprofit is airing concerns over animals trapped in cargo vessels, reports abc7 news.

Animals at risk

Ships carrying livestock to different countries in Europe and Asia are among the billions of dollars worth of significant cargo and sensitive products left on ships with blocked roads.

Gabriel Pawn, EU director of NGO Animals International, said thousands of animals being transported on...

https://mfame.guru/stranded-livestock-could-die-if-suez-block-persists-ngo-warns/

Rocks Under Stranded Vessel in Suez Canal

  • Dredgers working to dislodge the stranded vessel have so far shifted 27,000 cubic metres of sand, to a depth of 18 metres.
  • Efforts would continue around the clock according to wind conditions and tides.
  • Egypt’s President Abdel Fattah al-Sisi has ordered preparations for the possible removal of some of the ship’s 18,300 containers.

A recent news article published in Reuters and Business Today highlight the urgency and importance of removing the stranded ship in Suez Canal.

Rock under the ship’s...

https://mfame.guru/rocks-under-stranded-vessel-in-suez-canal/

Suez Blockage A Year Late for Shipping Giants

  • The blockage of the Suez Canal comes a year too late for shipping giants.
  • The massive Ever Given container vessel remains beached across the channel.
  • Moller-Maersk and others will soon have to re-route via South Africa, adding time and fuel costs.
  • A year ago, with crude prices in free-fall, many did that anyway. The oil price recovery makes the choice more painful.

A recent news article published in the reveals that Suez blockage comes a year too late.

Egyptian government’s transit fees

The...

https://mfame.guru/suez-blockage-a-year-late-for-shipping-giants/

Blockage In The Suez Canal To Cause Container Spot Rates To Escalate

Container spot rates from Asia to Europe look set to surge again, as carriers are obliged to blank sailings in response to the Suez Canal blockage, reports The Load Star.

Covering extra fuel cost

The Loadstar understands that shipping lines are considering introducing a Cape surcharge for vessels that are diverted around Africa to recover the extra cost of bunker fuel consumed in the additional seven to 10-day transit.

Christoph Baumeister, senior trade manager, Asia/ISC Europe at Flexport, said...

https://mfame.guru/blockage-in-the-suez-canal-to-cause-container-spot-rates-to-escalate/

Suez Canal Block Puts Global Trade in ‘Deep Water.’ Hers’s How.

The cargo ship blocking the Suez Canal is holding up traffic that carries nearly $10 billion worth of goods every day, so a quick clearing of the logjam is key to limiting the economic fallout, reads an article in Money Control.

Efforts continued Thursday to dislodge the Ever Given container ship and restore traffic on the critical man-made waterway that connects the Mediterranean to the Red Sea and provides a shipping shortcut between Europe and Asia.

Importance of Suez Canal in shipping

About...

https://mfame.guru/suez-canal-block-puts-global-trade-in-deep-water-herss-how/

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