Suez Canal blockage: Stalemate going on for 5th day. What we know so far

The US has also offered to help clear the blockage as the Suez Canal Authority welcomed international assistance in the matter.

The large container ship with all Indian crew remains stuck for the fifth day in Suez Canal on Saturday, while efforts are on to unblock one of the world’s busiest trade routes. Yukito Higaki, the president of Japanese firm Shoei Kisen KK that owns the wedged vessel Ever Given, has already apologised for the incident and said 10 tug boats were deployed and workers were dredging the bank and sea floors near the ship’s bow to free it.

It is estimated that more than 200 vessels are stuck in the traffic jam created by the blockage of the narrow canal by this over 220,000-tonne container ship. (REUTERS)

Here’s what we know so far about the Suez blockage:

It is estimated that more than 200 vessels are stuck in the traffic jam created by the blockage of the narrow canal by the over 220,000-tonne container ship. If the clearance of the blockage now takes more than two days, then it will take a week to clear the backlog as more ships are adding to the chock-a-block.

The US has also offered to help clear the blockage as the Suez Canal Authority welcomed international assistance in the matter. “We have equipment and capacity that most countries don’t have and we’re seeing what we can do and what help we can be,” Reuters quoted President Biden as saying. Additionally, the White House press secretary said the US sees the impact on the energy market from the challenge at the canal and it will continue to monitor the market situation and will respond appropriately if needed, as the key route for oil transit remains blocked.

India has also chalked out a four-point plan regarding the issue. The plan includes identifying perishable cargo for its priority movement. Container Shipping Lines Association (CSLA) has said that the freight rates will be maintained as per the existing contracts. The ministry of ports, shipping and waterways has assured to issue an advisory to the ports of JNPT, Mundra and Hazira to boost arrangements and ensure efficient handling during the upcoming busy period as the clearance of the blockage anticipates some clustering at these ports, news agency ANI reported.

The Suez Canal Authority said at least two efforts were planned to be made on Saturday to free the canal, depending on the time of the tide. The attempt to free Ever Given failed on Friday and two more tugs should arrive by Sunday to join others in the effort, said the technical manager of the ship Bernhard Schulte Shipmanagement.

Natural gas prices have increased and the food supply chain has been disrupted as the canal blockage wreaked havoc on the sea trade, reported Bloomberg. Moody’s investor has estimated an impact on 10-15 per cent of world container throughout and said that the timing could not be worse.

The closure of the canal could also impact the oil and gas shipment to Europe from the Middle East as 10 per cent of the world trade flows through the canal. Reuters quoted an analyst as saying that while there is no loss of oil supply, it can tie up tankers for longer if they have to navigate through the Cape of Good Hope, the southern tip of Africa that takes an extra two weeks to reach the destination.

Multiple ships in the Indian Ocean that were intended to pass through the canal have detoured to avoid the blockage. One of them is Panama-flagged Ever Greet.

The 400 meter long container is stuck in the single-lane stretch of the canal about 6km north of the southern entrance near the city of Suez. The 193km canal connects the Mediterranean Sea to the Red Sea and is the shortest route between Asia and Europe.

(With agency inputs)