Evergiven finally on its way after $550 million payoff to Egypt. Suez Canal to be re-designed

Sharing is Caring!

 

(Bloomberg) — For a nation that provides safe passage for so many ships through its waters, Egypt offered up rather special treatment for the Ever Given.

The 400-meter-long container ship began its voyage out of the canal on Wednesday after a ceremony attended by dignitaries, diplomats and company officials from around the world. The last time the Suez Canal Authority, which hosted the event, produced this much fanfare was in 2015, when an $8 billion expansion project was completed within a year. The ship is slated to sail into the Mediterranean and then to Rotterdam.

See also  Oil Prices May Rally A Lot More After U.S. Oil Strategic Reserve Dump Ends In October?

This time though, the event was as much about closure as celebration. Because it was the Ever Given, the giant Japanese-owned vessel carrying some $1 billion worth of cargo, that last March lost control as it traveled north through the canal, crashing into the banks and blocking the waterway like a giant cork for nearly a week. The incident roiled global markets and transfixed the world.

nz.finance.yahoo.com/news/egypt-waves-goodbye-suez-canal-200001914.html?.tsrc=fp_deeplink

Trending:
See also  School disinfected after outbreak in Boston

Views: 2

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.