A bulldozer is trying to save the “artery” of global trade

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Egyptian efforts are continuing to re-float the 400-meter-long “Evergiven” container ship, which has closed the Suez Canal in Egypt since last Tuesday. Pictures were circulated showing attempts by a small bulldozer to remove sand and mud from the front of the ship, while Tug boats and ship cranes are being used in an attempt to move it, in what some saw as difficult attempts to move the container ship blocking the most important trade route in the world.

Turkey offers to help

Turkey announced its readiness to provide assistance, according to Turkish Minister of Transport and Infrastructure, Adel Karah Ismailoglu, on Friday, who confirmed his country’s readiness to provide assistance in reshaping the delinquent ship in the Suez Canal.

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He added: “The Suez Canal is one of the important logistical corridors, and there has been no transit movement for two days, and there are even ships that change their course to the Cape of Good Hope.” The minister affirmed that Turkey has a ship capable of carrying out major operations such as re-flotation.

And he added, “The accident affects global trade, and we have a very strong and skilled fleet, and we have offered to provide assistance, and if we receive a positive response, we will provide assistance. The ship Nana Hatton that we own is one of the few ships in the world that carry out such large operations.”

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He explained that the ship is supervising operations in the Bosphorus, and that it is ready to move.

In response to a question about how Nana Hatton can provide assistance to the ongoing work in the canal, Karah Ismailoglu said: “I think it will make a major contribution to resurfacing the ship and opening traffic in the Suez Canal, if needed. We will do everything we can.” ».

Economic implications

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On the economic side, the repercussions that occurred blocked the way for oil and non-oil commodities estimated at $ 10 billion a day, which were passing through the Suez Canal daily.

The cost of shipping the 4.7-meter container, coming from China to Europe, increased to about 8 thousand dollars, which is 4 times the number last year, which simply means an increase in the prices of the goods in these containers.

The cost of the giant SuezMax ships that transport oil has risen to more than 17,000 US dollars per day, the largest number since June 2020.

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Returning to the “Cape of Good Hope” track … is possible and expensive

With the possibility that the closure of the waterway could last for weeks, many shipping companies are considering redirecting ships to the “Cape of Good Hope”, which will add 9,650 kilometers to the trip, and fuel costs of up to an additional $ 300,000, for each trip coming from the Middle East. To Europe.

The individual who buys goods on the streets of Europe, for example, will bear all these expenses.

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With the suspension of navigation in the Suez Canal due to the stranding of the giant ship “Evergiven”, giant tankers began to return to what is known as “the course of the old world.”

The ancient route is the Cape of Good Hope, meaning that the ships turned around the whole continent of Africa in order to reach their destinations, and this simply means: more costs.

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