Container ship that blocks the Suez Canal threatens to hike oil prices

The container ship Ever Given (of the Evergreen Line company), which ran aground in the Suez Canal on Tuesday, March 23, may cause an increase in oil prices on world exchanges. For almost a whole day, the tugs have been unable to move the giant ship. About a hundred ships were stuck inside the canal and in the immediate vicinity of it.

The length of the cargo ship that blocked the international sea route is 400 meters. He was going with a cargo from the PRC to the Netherlands. High winds caused the ship to deviate off course and run aground, according to Bloomberg from Taiwan-based container ship charter firm Evergreen Line.

It is noted that from the side of the Red Sea, about a hundred ships are expected to pass through the canal, in the waters of the Mediterranean Sea - about three dozen ships, and about the same is in the Suez Canal itself. Most of the ships caught in the traffic jam are oil tankers.

The Suez Canal is 193 kilometers long. Every year 12 percent of the world's transportation of goods, a tenth of oil and 8 percent of liquefied gas pass through it.

It is obvious that if the situation with the container ship is not resolved in the coming days, there may be a shortage on the oil market, which in turn will affect the quotes. If the process of removing the ship from the aground drags on for a week or more, an explosive rise in crude oil prices can be expected.
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  1. 123 Offline 123
    123 (123) 24 March 2021 15: 15
    Beautifully stretched out good So the traffic jams have come to Egypt. And on the Northern Sea Route there is space fellow movement in three lanes, no speed limits, no traffic lights, row wherever you want.
    Why did I remember ...
    Upon collision with an iceberg, the aircraft carrier sank. Captain Iceberg was nominated for the title of Hero of the Soviet Union.
    Maybe the captain of a Chinese steamer will receive his reward ...
    I mean, isn't this a subtle hint to overseas partners from the Chinese comrades after the meeting in Alaska?
    After all, it is so easy to block sea communications, if, for example, the Anglo-Saxons decide to do something similar because of Taiwan.
    However, this is just a version, it may well be that this is an accidental incident, but it is very indicative and happened very even at the right time.
    And the rise in prices ... probably already can be raised. In the US, production is unlikely to grow to pre-crisis levels. They officially raised the green flag (in the sense not Islamic, but with Greta in the center). And if they start to increase production, prices will probably have to drop again.
    1. Petr Vladimirovich (Peter) 24 March 2021 16: 36
      Don't bother Greta !!! She's hoping 18 has turned, God give her a good groom and beautiful children ... wink winked smile
      1. 123 Offline 123
        123 (123) 24 March 2021 16: 55
        Yes, let it come out, maybe give birth will grow wiser and there will be no time for stupidity.
  2. Dear sofa expert. 24 March 2021 16: 02
    Grounding a container ship is not effective. They'll unload it with helicopters, and take it off the shallows.
    But to flood a tanker loaded with cement across the canal would take a long time. )
    1. GRF Offline GRF
      GRF 24 March 2021 16: 21
      And they have no pilotage?
      Well, we are waiting for new hits from Hollywood ...
      1. Petr Vladimirovich (Peter) 24 March 2021 16: 44
        Blockbusters !!! Who's to blame? That's right, CNN and BBC won't say bad things !!! wink wink wink
        1. Pete mitchell Offline Pete mitchell
          Pete mitchell (Pete Mitchell) 25 March 2021 10: 08
          Quote: Petr Vladimirovich
          Who's to blame? That's right, CNN and BBC won't say bad things ...

          .. I think that is why they did not show HCV vaccination: while everyone was wondering what he was inoculated with, he quickly methane and on you - oil prices are growing ... lol lol
      2. Dear sofa expert. 24 March 2021 16: 47
        And they have no pilotage?
        Well, we are waiting for new hits from Hollywood ...

        They write: blown away by the wind. He's a sailboat!
  3. zz811 Offline zz811
    zz811 (Vlad Pervovich) 24 March 2021 17: 59
    offered you along the North Sea Route ...
  4. Alexander Betonkin 24 March 2021 23: 07
    One will not affect fellow , if only a dozen.
  5. Oder Offline Oder
    Oder (Wojciech) 26 March 2021 12: 18
    Yes, delays in the opening of the Suez Canal may provide some support for oil, but it is growing all over the world - incl. in Europe and the US - the number of new cases of Covid-19 may limit the rise in raw materials prices