Canal

Reinsurers are set to foot most of the bill for the grounding of the ship that halted traffic in the Suez Canal, industry sources said, with payouts expected to run into hundreds of millions of dollars. International supply chains were…
Read More...

It could take weeks to clear the tail-back of ships looking to use the Suez Canal, even as the gigantic container carrier Ever Given resumes its voyage through the world’s business shipping lane, data analysts have calculated. “We…
Read More...

The stranded container ship blocking the Suez Canal for almost a week was re-floated on Monday and is currently being secured, Inchcape Shipping Services said, raising expectations the vital waterway will soon be reopened. The ship was…
Read More...

Oil slumped more than 2 percent on Monday after news from the Suez Canal that salvage crews have managed to move the giant container ship that has been clogging up the vital global trade passage for nearly a week. Brent oil was down…
Read More...

Three sources familiar with the matter said on Saturday that the efforts to re-float the delinquent giant container ship in the Suez Canal will resume at around 14:30 local time (12:30 GMT) in an attempt to take advantage of the high tide.…
Read More...

A megaship blocking Egypt’s Suez Canal could be refloated as early as Saturday, the vessel’s Japanese owner told local media, as the crisis forced companies to re-route services from the vital shipping lane around Africa. The MV Ever…
Read More...

A giant container ship remained stuck sideways Friday in Egypt’s Suez Canal, as authorities race to free the vessel and reopen traffic in a crucial East-West waterway for global shipping. The Ever Given, a Panama-flagged ship that…
Read More...

Oil prices fell more than 1 percent as fresh coronavirus lockdowns revived worries about demand for oil products, even as tug boats struggled to move a stranded container ship blocking crude oil carriers in the Suez Canal. Brent crude…
Read More...