Suez Canal Update

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We are continuing to monitor the situation in the Suez Canal and the status of the 220,00-tonne Ever Given.

Earlier today, the Suez Canal Authority reported that ‘successful push and tow manoeuvres’ had led to the restoration of 80% of the vessel’s direction and the stern was now 102 metres away from the bank.

According to media reports, dredgers, excavators and tugboats worked throughout the weekend in changing wind and tide conditions to free thousands of cubic metres of sand caked around the 400 metre-long vessel.

In response to the blockage, carriers have already begun re-routing vessels via the Cape of Good Hope despite the additional costs and time scales.

It could easily take up to a week, possibly longer to clear the backlog of vessels in view of weather conditions, safety measures and operational restraints.

Changes to vessel schedules are being relayed at the earliest opportunity.