RateCaptain
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
Subscribe
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
RateCaptain
No Result
View All Result
Home

Suez Canal Has Reopened to Traffic After Giant Ship Is Freed

Rate Captain by Rate Captain
March 29, 2021
in Markets
Reading Time: 2 mins read
A A
0
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

Ships started moving again through the Suez Canal on Monday after the giant container ship that lay stranded across the critical waterway for a week was finally tugged free.

Hundreds of vessels carrying everything from oil to livestock were forced to wait in line after the Ever Given got stuck in the canal. The accident was a stark reminder of the fragility of global trade infrastructure and threatened to further strain supply lines already stretched by the pandemic.

AlsoRead

Cost of Healthy Diet Rises to N1,541 Per Day as Food Expenses Climb

Dangote Refinery Expansion to 1.4 Million Barrels Per Day Expected to Create 95,000 Jobs

Investors Pocket N1.7 Trillion as NGX Banking and Industrial Stocks Rally

Horns sounded in celebration as the container ship — which is longer than the Eiffel Tower and weighs 220,000 tons — limped up the canal after a painstaking rescue operation that saw teams of tugs and dredgers working day and night.

Salvage teams used the tides and a full moon to pull the ship from deep inside the sandy bank it had smashed into last week amid high winds and poor visibility. As part of their efforts, they shoveled 30,000 cubic meters (1 million cubic feet) of sand and even removed part of the canal wall.

Part of the problem was a five-day wait for two large tugboats, according to Peter Berdowski, chief executive officer of Boskalis Westminster, the parent company of the salvage team.

“We were enormously helped by the strong tide, the forces of nature that push hard, even harder than the two tugboats can pull,” he told Dutch radio.

“The men were euphoric of course. But there was a tense moment when this giant was floating freely. You need to bring it under control quickly with the tugboats before it gets stuck on the other side, we would have gone from bad to worse. Those were a tense 10 minutes.”

Adopted from Bloomberg
Previous Post

Nigeria Fuel Subsidy Hits Nearly $300 Million a Month, NNPC Says

Next Post

Oil Rises for Second Day With Focus Moving Toward OPEC+ Meeting

Related News

Nigeria’s Inflation Climbs to 19.6% in July 2022

Cost of Healthy Diet Rises to N1,541 Per Day as Food Expenses Climb

by Akpan Edidong
June 1, 2026
0

The average cost of consuming a healthy diet for an adult in Nigeria increased to N1,541 per day in March...

Dangote Refinery Obtains License to Process 300,000 Barrels of Crude Daily

Dangote Refinery Expansion to 1.4 Million Barrels Per Day Expected to Create 95,000 Jobs

by Victoria Attah
April 27, 2026
0

The Dangote Group has revealed that its planned expansion of the Dangote Petroleum Refinery from 650,000 barrels per day to...

Nigerian Stock Market Witnesses N35 Billion Dip in Market Cap as Key Stocks Decline

Investors Pocket N1.7 Trillion as NGX Banking and Industrial Stocks Rally

by Stephen Akudike
February 20, 2026
0

The Nigerian Exchange Limited (NGX) extended its bullish run on Thursday, February 19, 2026, with investors realising gains of approximately...

Nigerian Equity Market Sees Impressive N1.08tn Wealth Gain Amidst Bullish Trading.

NGX All-Share Index Breaks 190,000 Barrier, Market Cap Surges by N5.1 Trillion in Single-Day Rally

by Jide Omodele
February 17, 2026
0

The Nigerian Exchange Limited (NGX) recorded one of its strongest single-day performances on Monday, February 17, 2026, as the benchmark...

Next Post

Oil Rises for Second Day With Focus Moving Toward OPEC+ Meeting

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

NEC Affirms CBN $3 Billion Loan for Naira Stability

CBN Tightens Oversight on Fintechs with New Ultimate Beneficial Ownership Directive

June 22, 2026
Nigeria’s Opportunity: Navigating Global Oil Surge Amid Libya’s Top Oilfield Disruption

Oil & Gas, Industrial Goods Lead Market as NGX Posts 51.62% Gain in First Half of 2026

June 22, 2026

Popular Story

  • Naira Closes at N430 at the Investors and Exporters (I&E) Window as Scarcity of Dollar Persists

    Naira Stabilizes at N441.25 at the I&E Window Amid 60% Rise in Forex Supply

    0 shares
    Share 0 Tweet 0
  • Nigerian Stock Market Sees Modest Gains as All-Share Index Rises 0.21%

    0 shares
    Share 0 Tweet 0
  • 31 Nigerian States Grapple with N2.57 Trillion Domestic Debt Amid No Foreign Inflows

    0 shares
    Share 0 Tweet 0
  • Fair Money Job Opening: Regional Sales Manager

    0 shares
    Share 0 Tweet 0
  • Economic Implications of Clearing Goods from Cotonou Port for Nigerian Importers

    0 shares
    Share 0 Tweet 0

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • Home
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer
  • Cookie Policy
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

RateCaptain
Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
  • Manage options
  • Manage services
  • Manage {vendor_count} vendors
  • Read more about these purposes
View preferences
  • {title}
  • {title}
  • {title}
?>