Suez Canal crisis revived : EVER GIVEN regained back its buoyancy!

The giant Ship blocking the busiest trading Cargo route has caused one of the biggest havoc in the history of trade through Suez Canal, eventually making an overall loss of 54 billion in just 6 days. A great back actor and a crew of bumboat proved nanoscopic against the freight ship’s dimensions which disclosed the baseness of the challenge to be overcome at its first place. Many challenges came in the escape of giant ship container that had blocked the whole line of Suez Canal in Egypt. The ship made excavator and yank strive hard on Tuesday dated 23rd March 2021, as over more than 150 or above ships were in line to reach towards destination. Suez Canal is the busiest cargo route which links the world trade water lanes between Mediterranean Sea and Red Sea. All the cargo vessels were waiting to pass as they were too stuck in the route to pass by.

The Ever given’s Buoyancy:

This giant ship belongs to a Japanese owner Shoei Kisen. The ship is 1,312 foot wide vessel. It was heading its journey from China to Netherlands through the tapering Suez Canal on Tuesday 23rd March 2021. The authorities of Egypt informed that it happened due to strong and heavy winds of dusty Storms.

The ship was loaded with consumer goods belonging to European Market. All over around more than 20 thousand containers were there on it. The ship is named as Ever Given which is huge vessel having dimensions of 400 meters long which was having a weight of over 200,000 tons. The Suez Canal comes under the boundaries of Egypt government which is always highly maintained and managed by the government. However this came as the matter of their prestige to refloat the ship.

Trading Impact on the International market:

The week long stuck of the ship leaves its great effect on the prices of goods and commodities across the international market. Especially there is a hike seen in the prices of crude oil. This blockage of ship leads has also delayed the other ships and containers to reach their destinations. Near about 400 ships, containers, goods carrying vehicles were stuck in the terrible traffic jam in the canal.

The prices of crude oils were on the top, as it was marked that many companies were seen in increasing the prices by 2 to 5% since there were more than 4 long range oil containers stuck on holding the oil capacity of around 75000 tons. Also the shortage of other essential commodities were seen like groceries, furniture etc.

As per as the Europe Asian trade is concerned there were no alternative routes other than the canal like rail or truck transportation system.

How was the Ever Given giant freed?

The wise and hard core efforts were made to regain buoyancy of the ship from the canal edge. From Monday onwards the rescue operation was started, the workers of the Suez Canal Authority (SCA) and the other one Dutch firm Smit Salvage. As the ship was overloaded with the enormous amount of goods and containers, the process of unloading the ship was at first. The rescue team was working for five days continuously on both land and in water to make the ship float.

However, the jerk came in the effect when at the Sunday night the nature was also in favor to make the ship to come up as safe again by the way of high tide currents . By this it approximate 102 meters uplift was seen in the position of giant ship.

This boosted the morale of rescue team to rise up again and put the huge effort with specialized instruments. This incident had put a lot of pressure on the centralized team of SCA, as near about 400 ships and containers were in the queue, waiting for the route to clear. The authorities had to impose some restrictions on the passage of other ships and containers, as the priority was given on the basis of First In First Out loop.

On 29th March 2021, everyone’s efforts were proved when the ship regained its Buoyancy.

What next will be done to the ship now?

After the rescue, the ship is now taken at the Great Lakes, where it will undergo the technical inspections, and the technical team there will issue the feedback to the authority about the reasons for this havoc happened. It was either due to oven currents, or any mechanical error in the engine or any way dealing with pollution and other issues?

However, even though all this incident happened, the goods and commodities in the containers loaded over the giant ship were least affected and were in good condition which is greatly appreciated by all over the authorities.

After the successful victory of the rescue team, The Managing director of the Suez Canal Authority SCA Egypt Admiral Osama Rabie, tapped the back of all the pioneers who worked day and night for the rescue operation, thus also assuring and allowing the restoration of vessel damage, and giving the compensation price to the Egypt government. Afterwards, he has targeted the traffic congestion issues and supply chain effects on the trade worldwide. But later he assured to move the ship to the Great bitter lakes for inspection and revealing the issues of the incident.

The havoc happened didn’t results in the  any harm to the goods and commodities or any injuries to humans,  as there was the containers of various combustion commodities like Oil tankers, liquidized natural gas (LNG).

Due to the losses occurred from the incident the SCA Suez canal authority may get the compensation amount of over $1 billion as declared by the Egypt’s SCA chairman Osama Rabie.

This event has been marked up in the history of Suez Canal trade affairs.