Monday, 18 October, 2021


United Nations officials review plan to build canal on Egypt-Israel border

Three Days Necessary for Traffic in Suez Canal to Return to Normal, Egyptian President Says Suez Canal blockage: Global shipping disruption could take months to resolve, warn experts
Kristine Garrett | 01 April, 2021, 20:27

"The amount of damage and losses, and how much the dredgers consumed, will be calculated", Rabie said.

The figure is an estimate of losses linked to transit fees, damages incurred during the dredging and salvage efforts, the cost of the equipment, and labour, Suez Canal Authority chief executive Osama Rabie told local television channel Sada Elbalad.

Rabie said that the compensation was Egypt's "right" and that the incident hurt the country's reputation. "This country should get its due", he said.

Taiwan's Evergreen Marine, the vessel's charterer, said on Thursday that it was not responsible for delays of any cargo it was transporting.

The world heaved a collective sigh of relief when news broke on Monday that traffic through the Suez Canal had resumed, after a 400m-long tanker, which ran aground and became lodged diagonally across the canal for nearly a week, was refloated.

The Ever Given's stranding across a southern section of the canal forced a halt to all traffic, leading to a build-up of 422 ships at either end of the canal and along its course.

The Suez Canal is the shortest route between Europe and Asia through which $9.6 billon worth of trade passes through every day.

The Panamanian-flagged, Japanese-owned, Taiwanese-operated ship became caught in high winds and a sandstorm as it navigated a narrow stretch of the canal March 23.

Clearing the ships that built up at the Suez Canal could take four days, although catching up at ports will take longer, the United Nations Conference on Trade and Development (UNCTAD) said.

"The situation in the Suez Canal has returned to its place, we expect that within three days the traffic jam from the ships will be eliminated, movement will return to normal", al-Sisi, who is visiting the canal, said. Sailing via the Suez Canal reduces the distance between the ports in Mumbai and NY by over 3,200 nautical miles, compared to sailing around the Cape of Good Hope.

"In 40 years now, not a single case of dispute has happened between SCA and Evergreen", he said. "We all respect all the rules of the SCA", he said.

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