Suez Canal traffic returns to normal as vessel is successfully refloated

According to the Egyptian authority overseeing the crucial waterway, maritime traffic in the Suez Canal returned to its regular operations on Monday. This followed the incident involving a Norwegian-owned cargo vessel running aground, which was successfully refloated and towed away.

According to Suez Canal Authority (SCA) chief Osama Rabie, tugboats have started towing the ship that experienced a “sudden technical failure,” and it is now on its way to undergo repairs safely.

The Suez Canal, connecting Asia and Europe, serves as a crucial waterway facilitating approximately 10 percent of global maritime trade.

In 2021, super tanker Ever Given became wedged diagonally across the canal during a sandstorm, disrupting trade flows for nearly a week.

According to the SCA, Egypt lost between $12 million and $15 million every day of the closure, while insurers estimated that global maritime trade suffered billions in lost revenue per day.

Fears of a costly new blockage were sparked on news of the latest incident, first reported on Twitter by Norwegian company Leth, a shipping agency for many vessels in the Suez Canal.

“M/V Glory grounded while joining Southbound convoy near to Alaqantarah,” it wrote in a brief message.

“Suez Canal Authority tugs are currently trying to refloat the vessel.”

However Leth later also reported that the ship “has been refloated by the Suez Canal Authority tugs”.

It added that “21 vessels going southbound will commence/resume their transits. Only minor delays expected.”