Spreading the Suez Canal boat ‘could take weeks: Live | International Trade News

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Disposal of the vessel stuck in the Suez Canal could take days or even weeks, experts say, as a large number of vessels are increasingly accumulating in the Red Sea and Mediterranean terrestrial, waiting to pass.

On Friday morning, the largest ever-delivered ship remained in the same position, with tugs and scrapers still working to free it, according to Canal service provider Half Agencies.

A team from Boskalis, a Dutch company specializing in salvage, began working with the canal authority on Thursday. Rescue efforts have focused on dredging to remove sand and mud from the port side of the ship’s bow.

Here are the latest updates:

Downtime ‘could definitely last at least two weeks’

Speaking to Bloomberg, Randy Giveans, senior vice president of Equity Research for Energy Maritime at Jefferies LLC, said that if cargo needs to be downloaded or extensive repairs made to the canal itself, “then the downt period could last at least two weeks ”.

On Wednesday, Peter Berdowski, chief executive of Boskalis Westminster, the chief of the rescue team, said, “I can’t rule out that she can last weeks if the ship is real”.

The process would take so long if “you have to get rid of cargo and you also have to scrape,” he said in an interview on Dutch TV program Nieuwsuur.

Oil prices are regaining some ground in case Suez blockade could last for weeks

Oil prices reversed sharp sales earlier in the day to rise 1 percent on Friday for fears of an uptick that it could take weeks to dismantle the vessel, which would crush raw materials and refinement.

But prices remained flat for a third consecutive weekly loss, with demand forecasts declined by new European coronavirus locks.

Brent crude was higher by 54 cents, or 0.9 percent, at $ 62.49 a barrel by 0432 GMT, after falling 3.8 percent Thursday.

Towing boats and scrapers still working to free a boat

The ship’s arch is still stuck in the east wall of the canal, while its stern appeared lodged against the west wall – a remarkable event that experts said they had never heard of. in the 150-year history of the canal.

The Suez Canal Authority, which operates the canal, has deployed a number of tugs in efforts to refurbish the large vessel, including a special switch scraper capable of Move 2,000 cubic meters of material per hour.

As of Friday morning, the vessel remained on the ground in the same position, with tugs and scrapers still working to free her, according to Canal service provider Half Agencies. He remembered that it was not clear when the path would reopen.

The Dutch to the rescue

A team from Boskalis, a Dutch company specializing in salvage, began working with the canal authority on Thursday. Rescue efforts have focused on dredging to remove sand and mud from the port side of the ship’s bow.

The canal authority said they had to remove between 15,000 to 20,000 cubic meters (530,000 to 706,000 cubic feet) of sand to get to a depth of 12 to 16 meters (39 to 52 feet).

That depth is likely to allow the vessel to sail freely again, he said.

Promotions for global shipping

The hurdle is causing headlines for global trade. About 10 percent of global trade flows through the waterway, which is especially important for transporting oil.

The closure could also affect shipments of oil and gas into Europe from the Mideast.

At least 150 boats were waiting to clear the Ever Given, including vessels near Port Said on the Mediterranean, Port Suez on the Red Sea and those already in existence involved in the canal system on Egypt’s bitter Great Loch, said Half Agencies.

Here are five things to know about the Suez Canal lock.

A little more backup for sailors

Using data from automated Detection System detectors at ships at sea, data company Refinitiv shared an analysis with news agency Associated Press showing that more than 300 boats will remain on the way over the next two weeks.

Some vessels may still change course, but the loss of vessels listing the Suez Canal as their destination shows that there is an even greater backlog of sailors for sailors who are already under pressure. among coronavirus pandemic.

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