Questions raised over cause of Ever Given grounding
How a large modern containership came to block world trade is a question that will need answering quickly to prevent a repeat occurrence
Engine failure and heavy weather have both been cited as reasons behind Ever Given’s grounding in the Suez Canal. But neither are convincing and plain old navigation errors may be at the root of the casualty
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The queue of traffic waiting to transit the Suez has grown significantly overnight, with over 200 vessels now stuck due to the blockage. Market rates are reacting as owners start to re-route tonnage
‘The disruption on the LNG market will be limited if the congestion in the Suez Canal is resolved in a day or two,’ says WoodMac’s LNG analyst
If the blockage is prolonged, Wood Mackenzie expects oil product trade flows from Europe and the Mediterranean to the East of Suez to suffer a greater impact, reducing the availability of naphtha, petrochemical feedstocks and fuel oil to Asia
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