However they were jammed again due to the changing tide, he said, adding that rescuers had had to resort to excavators again overnight to continue the dredging process.
"The type of soil we're dealing with is very difficult to manage, as are the tides which affect the vessel due to its size and its cargo load," he added.READ: Suez Canal blockage may disrupt supplies to the region: Ong Ye Kung The ship's grounding is holding up about US$9.6 billion worth of cargo each day between Asia and Europe, according to Lloyd's List data.
Rabie estimated that Egypt is losing about US$12 million to US$14 million in revenue from the canal for each day it is closed.Rabie thanked the US for its support along with China and the United Arab Emirates.
China hackers again..
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Suez Canal chief: Vessel impounded amid financial disputeEgyptian authorities impounded a massive cargo vessel that blocked the Suez Canal last month amid a financial dispute with its owner, the canal chief and a judicial official said Tuesday. Lt. Gen. Osama Rabie said the hulking Ever Given would not be allowed to leave the country until a compensation amount is settled on with the vessel's Japanese owner, Shoei Kisen Kaisha Ltd.
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Suez Canal chief says southern stretch to be expandedCAIRO (Reuters) -The Suez Canal Authority (SCA) plans to expand and deepen the southern stretch of the waterway where a container ship became jammed and blocked traffic for six days in March, Chairman Osama Rabie said in a televised address on Tuesday. Rabie presented the plan at an event attended by Egyptian President Abdel Fattah al-Sisi, who indicated that the project should be completed in 24 months at most. The SCA plans to widen the southernmost 30-kilometre (18-mile) stretch of the waterway between the city of Suez and the Bitter Lakes area by 40 metres (130 feet) eastwards, Rabie said.
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Oil prices rebound on fears Suez Canal blockage may last weeksOil prices bounced back on Friday from a plunge a day earlier on concerns that a large container ship that ran aground in the Suez Canal may block ... Calm down people, you can still go around the Horn of Africa. LoL.
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Japanese owner of container ship stuck in Suez Canal says received no compensation claimsShoei Kisen, the Japanese owner of a giant container ship which stuck and blocked the Suez Canal for almost a week, has not received any claims or lawsuits to seek compensation for damages from the blockage, a company official said on Tuesday. 'There have been no claims or lawsuits against our company related to the incident,' Yumi Shinohara, deputy manager at Shoei Kisen's fleet management department, told Reuters by phone. 'We are still investigating the cause of the incident and the cost including insurance payment and potential compensation for damage,' she said, without elaborating.
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The cost of the Suez Canal blockageThe Suez Canal Authority said its revenue is taking a US$14m-US$15m hit for each day of the blockage. YahooFinance
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