Trade routes between Asia and Europe connected via the Mediterranean Sea to the Red Sea remain to be in a halted state as authorities in Egypt on Wednesday continued operations to dislodge the Ever Green container that was grounded diagonally in the Canal at around 7:35 am on Tuesday. Bernhard Schulte Shipmanagement, the company that manages the container said that all the Indian 25-member crew onboard the container are safe. "All the crew came from India and are safe. However, we are trying to resolve the situation as soon as possible, but it proving to be extremely difficult," Bernhard Schulte Shipmanagement stated, as reported by AP.
It has been more than two days since the cargo ship grounded at a spot in the Suez Canal, reportedly delaying the movement of over 150 ships that are scheduled for the sail to Asian and European countries. Ships and containers on these 193-kilometer long canal transports goods worth $10 billion daily. Further delay in clearing the block would lead to an economic fallout as 1.9 million oil barrels — that is around 7 percent of all seaborne oil is ferried in huge ships from the Middle East to Europe, according to iconic shipping journal Lloyd’s List.
Lloyd's estimated that while goods worth $5.1 billion are ferried in cargos to Western nations, goods worth $4.5 billion are eastbound, and all containers move from the Suez Canal where Ever Green remains in a grounded state. Over 50 ships sail into the Mediterranean Sea and the Red Sea on any given day, carrying 1.2 billion tons of cargo, Llyod calculated. Reports however said that the operator has hinted the cargo has been partially refloated and placed along the Canal bank.
in a press release on Thursday, The Gulf Agency stated, "Efforts to move the cargo continued on March 25 so the container can be completely refloated." Two dredgers have now been sent to assist the ongoing operation," ANI reported. The Ever Green container that is 224,000 tonne heavy was on its way to the Dutch port city of Rotterdam from China when the pilot struggled to steer the ship due to strong winds and dust storms.
This specific spot in the Suez Canal is very crucial for trade routes and operations are in full swing to clear the way. The blocking of this route will lead to a longer route that the containers have to take around the southern tip of Africa that further extends a cargo's voyage by two weeks, leading to delayed supplies.