Cargo go go!
Suez hope as stranded ship moves
THE stranded Suez Canal cargo ship shifted for the first time in five days yesterday.
The ray of hope came as Britain was warned to expect months of price hikes and shortages, just as shops are set to reopen after lockdown.
Canal chiefs said the wedgedin 1,312ft-long Ever Given moved after dredgers dug out 20,000 tons of sand and tugs were sent in to try and use high tides to dislodge it.
They were unable to predict when the 220,000-ton container vessel will be fully dislodged – but admitted “technical or human errors” may have led to it becoming stuck in the 985ft-wide section of the canal.
The new Suez crisis has caused “traffic jams” of more than 320 ships waiting to use the vital link route.
Worldwide daily trade losses are estimated at £6.5billion and UK retailers said many imported products are soon likely to be in short supply for a while. Among cargo aboard the queuing vessels are livestock, manufacturing components, furniture, clothing, car parts and construction materials.
Shipping expert Lars Jensen said: “There is no hiding from the ripple effect of this. It is majorly important for companies and retailers.”
The CEO of Seaintelligence Consulting went on: “Even if the canal opens tomorrow, expect months of shipping delays. And reopening will be like ketchup out of a bottle.
“Normally Europe receives about 50,000 containers a day, as ports can largely handle that flow. Suddenly there’ll be a huge chunk of cargo at once. Ports won’t be able to handle
this. And once all cargo is ashore, transporting it will be a problem.
“The longer it takes to clear the blockage, the worse this gets.”
Some ships have diverted around Africa, via the Cape of Good Hope – but this can take more than 12 days longer, incurring further costs.
The British Retail Consortium said food imports are unlikely to be hit. But another expert warned: “Oil could rise in price, as a large amount is transported through the canal.”
The stranded vessel’s owners, Taiwanese firm Evergreen, say it ended up wedged into both banks of the canal when high winds in a sandstorm pushed it sideways.
Security expert Prof Anthony Glees said it and the backed-up ships are now “sitting targets for rocket attacks from Islamists and anti-egyptian activists”.
He added: “The situation is in itself de-stabilising but also may give terrorists ideas. It shows our enemies how easy it would be to hold world trade to ransom.”