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Tag: Egypt

Over 300 Ships Now Stranded As Suez Canal Authority Chairman Says “Human Error” Contributed To Crash

Over 300 Ships Now Stranded As Suez Canal Authority Chairman Says “Human Error” Contributed To Crash

Update (1653ET): Egypt Today Magazine reports Ever Given has moved “17 meters towards the north, and there are positive indications that the ship would be refloated soon because of the high tide today.” With rising sea levels tonight, Lieutenant-General Osama Rabie, Chairman of the Suez Canal Authority (SCA), said the containership might refloat.  Egypt Today Magazine says the best time to refloat the stranded containership could be sometime tonight “due to the highest tidewater and the wind today is strong and…

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Tanker Rates Rise As Global Shippers Scramble To Reroute Ships Around Africa

Tanker Rates Rise As Global Shippers Scramble To Reroute Ships Around Africa

Zero Hedge, 24 March, 2021 Update (1315ET): Bloomberg has published more details on the push for global shippers to divert ships around Africa. Torm, a Danish owner of tankers, said its customers have asked about the cost of options to divert. BBG said the diversions are being considered as markets on everything from oil to feedstock to refined petrochemicals are being impacted by what’s now being widely referred to as the “Suez crisis.” Torm A/S, a Danish owner of tankers,…

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