Nearly 400 ships waiting to enter Suez, Egypt is considering a discount – World – News

One of the world’s largest container vessels, the Evergreen, sailed from China to Rotterdam and struck a shallow position on the Suez Canal on Tuesday, March 23rd.

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The pressure on the Egyptian government to block the main Suez Canal is increasing every day. For the sixth day the canal has been blocked and the damage to world trade and Egypt is increasing. Some shipping companies have already announced that they will begin diverting their ships the long way around the Cape of Good Hope.

One of the world’s largest container vessels, the Evergreen, sailed from China to Rotterdam and struck a shallow position on the Suez Canal on Tuesday. Since then, the number of ships waiting to enter the canal has risen to nearly 370, said Osama Rabia, head of the Suez Canal Administration (SCA). In addition to other container vessels, these are bulk carriers, oil tankers and liquefied natural gas (LNG) vessels.

Ships are being sent around Africa

Some shipping companies have already stated that they will return their ships. According to the shipping company CMA CMG Group, at least two of its container ships must continue to sail around the Cape of Good Hope in South Africa. The accident affected a total of 19 corporate ships. Another major shipping company, the Mediterranean Shipping Company, has announced that it will divert 11 of its ships to orbit around the southern tip of Africa.

One of the largest container vessels in the world ...

One of the largest container vessels in the world ...

However, as the rabbi said, the Suez Canal is a safe and narrow shipping lane. “We provide good services to companies,” he told Egyptian television. Rabija said the shipbuilding companies damaged by the canal siege would get a discount, but he also hoped the investigation would show whoever Gwen was not responsible for the canal.

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The President ordered the landing

Despite the efforts of the authorities, the wrecked ship has not yet been released, and, according to the rabbi, Egyptian President Abdel Fattah al-Sisi ordered arrangements to unload part of his 18,300 containers. However, the rabbi believes that this move to prolong the ship’s release is not necessary. If this happens, unloading will not begin until Monday (March 29).

The 193 km long canal connects the Mediterranean Sea and the Red Sea and is the shortest shipping lane between Europe and Asia. According to Rabija, at least 18,840 ships used the canal last year.

In addition, a busy artery is one of the main sources of income for the Egyptian economy, along with tourism and remittances. Revenue from the use of the Suez Canal reached $ 5.6 billion (4. 4.75 billion) last year.

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Alfred Lee covers public and private tech markets from New York. He was previously a Knight-Bagehot Fellow in Economics and Business Journalism at Columbia University, and prior to that was a reporter at the Los Angeles Business Journal. He has received a Journalist of the Year award from the L.A. Press Club and an investigative reporting award from the Society of American Business Editors and Writers.

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