Suez Canal maritime traffic was "normal" on Monday after a Norwegian-owned cargo vessel ran aground but was then refloated and towed away, said the Egyptian authority running the vital waterway. Tugboats "have begun towing the ship" which had suffered "a sudden technical failure" and was now being safely towed away for repairs, said Suez Canal Authority chief Osama Rabie. The Suez Canal, which links Asia and Europe, sees about 10 percent of the world's maritime trade.

In 2021, supertanker Ever Given became wedged diagonally across the canal during a sandstorm, disrupting trade flows for nearly a week. According to the SCA, Egypt lost between $12 million and $15 million every day of the closure, while insurers estimated that global maritime trade suffered billions in lost revenue per day.

Fears of a costly new blockage were sparked by news of the latest incident, first reported on Twitter by Norwegian company Leth, a shipping agency for many vessels in the Suez Canal. "M/V Glory grounded while joining Southbound convoy near to Alaqantarah," it wrote in a brief message. "Suez Canal Authority tugs are currently trying to refloat the vessel. "However, Leth later also reported that the ship "has been refloated by the Suez Canal Authority tugs". It added that "21 vessels going southbound will commence/resume their transits. Only minor delays expected."

Credit : Independent News Pakistan-INP