The ongoing Suez canal crisis, which has seen a Taiwanese ship run aground causing a blockage that has disrupted global trade in the days following could take several weeks to clear, according to rescuers.
The Ever Green vessel has become wedged into the side of the Suez Canal, causing trade disruptions. Credit: Suez Canal Authority
Dredgers arrived on Thursday to help shift the 400m (1330 ft) long, 220,000-tonne vessel after it became wedged into the canal amid high winds and storms on Tuesday.
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12% of global trade passes through the Suez Canal, which is located between mainland Egypt and the Sinai Peninsula and connects the Mediterranean and Red Seas and the Indian Ocean.
It provides the shortest link between Asia and Europe for trade.
Peter Berdowski, the CEO of Dutch dredger Boskalis told the Netherlands' Nieuwsuur programme that "the longer the ship is, the longer an operation like this will take," adding that it may take "days or weeks" and stating the long haul to bring the necessary equipment in.
He likened the process to freeing a breached whale.
"We might have to work with a combination of reducing the weight by removing containers, oil and water from the ship, tug boats and dredging of sand," he added.
The ship, called the Ever Given, is so large that at least 100 ships have been stalled at the entrance to the canal in anticipation.
The Ever Green has caused a blockage of at least 100 ships at the Suez Canal. Source: MarineTraffic.com
Prices for goods and services such as oil have already started fluctuating owing to the crisis. The price of crude oil shot up by 6% following the news.
The owner of the vessel, the Taiwanese company Evergreen Marine issued a statement regarding the incident.
"In co-operation with local authorities and Bernhard Schulte Shipmanagement, a vessel management company, we are trying to refloat the ship, but we are facing extreme difficulty," Shoei Kisen Kaisha, the company who owns the vessel said on Thursday.
"We sincerely apologise for causing a great deal of worry to ships in the Suez Canal and those planning to go through the canal."
Shipping, alongside other aspects of industrial supply chains, have already been heavily disrupted owing to the coronavirus pandemic.
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Reuters has reported that even if the vessel gets up and running quickly, the company may face millions in settlements due to the trade disruptions faced at the canal.
Egyptian officials have said at least eight tug boats have continued to dislodge the ship during high tide, but have not yet had any luck.
Dredgers have also been clearing sand and mud away from the vessel, which has run aground on the right side of the canal.
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