Industry warns of global shipping delays, traffic continues to be stalled in Suez Canal – Roya News English

Industry warns of global shipping delays, traffic continues to be stalled in Suez Canal – Roya News English

Traffic remains suspended Thursday morning in the Suez Canal after a huge container tanker ran aground, which could slow maritime transport for several days in this main commercial corridor between Europe and Asia.

The accident took place on Tuesday night, and led to a jam of ships and a significant delay in oil supplies and other commercial goods.

The accident led to a rise in oil prices on Wednesday in global markets.

An interactive map of the Vesselvinder site, which specializes in ship traffic, shows that dozens of ships are waiting on both sides of the canal and in the waiting area in the middle. Locomotives sent by the Suez Canal Authority have been trying to move the huge container carrier since Wednesday morning.

It is expected that the accident will slow maritime transport for a period of days, but the economic consequences will remain limited in principle if the situation does not last, according to experts.

"We have never seen anything like this before, but it is likely that the congestion will take several days or weeks to subside, as it will extend its impact on other shipments, schedules and global markets," said Ranjith Raja, in charge of oil research at the US financial