Dredging and tugging aimed at freeing a mega vessel stuck in the Suez Canal failed on Friday to end a blockage that has lifted shipping rates for fuel tankers and scrambled global supply chains for everything from grains to baby clothes. The Suez Canal Authority (SCA) could not immediately be reached for comment. A Dutch rescue team had confirmed two additional tugs would arrive on March 28 to help dislodge the ship, BSM said. Turkey also said it can send a vessel to the canal, amid a push by Ankara to repair ties with Egypt after years of animosity. Oil rose over 3% on Friday as more than 30 oil tankers have been waiting on either side of the canal since Tuesday, shipping data on Refinitiv showed.

Source: Standard Digital March 27, 2021 06:11 UTC