Nuhey News

We talk about the MARKET

Successful refloating of the ship that was stuck in the Suez Canal Report

Yes, according to multiple news reports, the Ever Given, a massive container ship that ran aground in the Suez Canal on March 23, was successfully refloated after being stuck for nearly a week.

On Monday morning, the Suez Canal Authority reported that the ship had been successfully re-floated using tug boats and that the canal would soon be open to traffic. The ship was partially dislodged earlier in the morning, which allowed tugboats to begin towing it into the Great Bitter Lake, an area of the canal in between the two entrances.

Efforts to dislodge the vessel, which is nearly as long as the Empire State Building is tall, had been ongoing for nearly a week. The accident had blocked the essential waterway and caused a global backlog for cargo ships carrying vital goods. Estimates suggested the blockage had cost global trade upwards of US$9 billion.