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Traffic in the Suez Canal and its impacts

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Suez Canal, the man-made marvel that connects Mediterranean and Red Sea is on news, since Tuesday.

The canal is the shortest choice for the traders, as it reduces the time to reach their destinations. Absence of this marvel, delays the travel roughly around 7 to 9 days. Inspite of its benefits, it is the most sensitive area, as even mild traffic here, delays the ships around. Each day around 510 crores Dollar worth goods travel along the Northern part of the canal. And around 450 crores dollar worth goods travel along the Southern part.

Image of Suez Canal

One such traffic occurs now, as a Giant Container Ship wedges across the canal’s width. Mainly near the southern end of the canal. Because of its position, it affects the two way traffic of other ships.

This ship – the Evergreen Marine belongs to a Taiwanese firm. It is 400m long ( 1300 ft ), and 22.8 knots in speed. The recovery works are in process. It involves Several drillers, dredgers and tugs in this attempt. The process is expected to solve this bottleneck within a week.

Source : Reuters

Reason behind this incident is that – The crew members of the ship lost the steering control. And the only possible solution is Dredging, Tugging and removing weight form the ship. Inspite of several Dredgers, a special suction dredger is used. As, it shifts 2000 cubic metre of material every hour.

By removing weights like fuel, water and cargo from the ship, there is a close possibility of refloating the ship in water. Unfortunately, this traffic reports 400 million dollar loss each day since Tuesday. Mainly, the owners and investors related to Evergreen Marine, is under bulky insurance bill.

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