CAIRO, Egypt – The owners of a giant container vessel blocking the Suez Canal said Thursday they faced “extreme difficulty” refloating it, as Egypt temporarily closed one of the world’s busiest shipping lanes. ADVERTISEMENT“I have experience with several rescue operations of this kind and as the former chairman of the Suez Canal Authority, I know every centimetre of the canal,” said Mamish, who oversaw the recent expansion of the waterway. “We sincerely apologise for causing a great deal of worry to ships in the Suez Canal and those planning to go through the canal,” it said in a statement. Oil prices had jumped by almost six percent on Wednesday in response to the Suez Canal accident, before dropping again on Thursday. More recently, in 2018, the canal was temporarily closed after a Greek-owned bulk carrier suffered engine failure, triggering a five-ship collision.

Source: Philippine Daily Inquirer March 25, 2021 22:07 UTC