Satellite photo:
From gCaptain:
Latest Attempt to Refloat Ever Given Unsuccessful as Shipping Rates Surge
The Suez Canal stepped up efforts on Friday to free a giant stuck container ship and end a blockage that has sent shipping rates for fuel tankers soaring and disrupted global supply chains for everything from grains to baby clothes.
Shipping rates for oil product tankers have nearly doubled after the 400-meter (430-yard) long Ever Given ran aground in the vital trade waterway on Tuesday.
Efforts to free it may take weeks and be complicated by unstable weather conditions, threatening costly delays for companies already dealing with COVID-19 restrictions.
Shipping rates?
The blockage could cost global trade $6 billion to 10 billion a week, a study by German insurer Allianz showed on Friday.
Ratings agency Moody’s expects Europe’s manufacturing and car parts suppliers to be most affected because they operate “just-in-time” supply chains.
Petroleum costs are up a bunch too - wonder if this will spur them to build a pipeline. Much cheaper overall.
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