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Business & Finance

Suez Canal blockage: Stranded Japanese ship likely to be freed soon

  • The Japanese ship was stranded in the Suez Canal, a major trade route connecting Asia and Europe, on Tuesday, disrupting several ships on the Suez Canal, also disrupting international trade and sending several companies back to Africa.
Updated 27 Mar, 2021

A giant Japanese container ship blocking the Suez Canal, which connects Europe and Asia, is expected to be pulled out soon.

According to the Nikkie Asia, the owner of the Japanese ship Evergreen Marine, Shoei Kisen said in a press conference that the ship stuck in the Suez Canal will come out soon and there is a strong possibility that the ship will be pulled out of the canal on Saturday.

The owner of the ship said that 10 boats have been deployed to remove the ship from the bank of the Suez Canal, for which the United States has also offered to provide its naval services.

The 1,300-foot giant got stuck in the Suez Canal on Tuesday, disrupting global trade.

He said the company was constantly working to remove and hoped that the ship would be removed by Saturday evening according to Japanese time.

The owner of the ship said that there is nothing wrong with the ship’s rudder and turbine, so once the ship is in the water again, it will be able to move easily.

The Japanese ship was stranded in the Suez Canal, a major trade route connecting Asia and Europe, on Tuesday, disrupting several ships on the Suez Canal, disrupting international trade, and sending several companies back to Africa.

The blockage in the Suez Canal affected naval traffic and more than 200 ships were stranded in the Red Sea.

It is pertinent to mention that the 120-mile-long Suez Canal carries about 12 percent of the world's trade, connecting the Mediterranean and the Red Sea, providing a short sea route between Asia and Europe.

Oil prices rose more than 4pc on Friday, rebounding on concerns it could take weeks to dislodge a giant container ship blocking the Suez Canal, which would squeeze supplies of crude and refined products.

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