Suez Canal suspends traffic as bid to refloat grounded ship hits trouble

The owners of a giant container vessel blocking the Suez Canal said Thursday they were facing “extreme difficulty” refloating it, prompting Egypt to suspend navigation through one of the world’s busiest shipping lanes. The Suez Canal Authority (SCA) said it was trying to refloat the Panama-flagged MV Ever Given, a 400-metre (1,300-foot) long vessel which veered off course and ran aground in a sandstorm on Tuesday. Satellite pictures released by Planet Labs Inc show the 59-metre wide container ship wedged diagonally across the entire canal. Japanese ship-leasing firm Shoei Kisen Kaisha said it …

Read More

HEDGE accordingly