FILE - In this Aug. 6, 2015 file photo, an army zodiac secures the entrance of the new section of the Suez Canal in Ismailia, Egypt. (AP Photo/Amr Nabil, File)
A bulk carrier vessel became wedged Thursday in Egypt’s Suez Canal, briefly blocking traffic in one lane of crucial global waterway, Egyptian authorities said.
The Suez Canal Authority said in a statement that the Panama-flagged Coral Crystal ran aground in a double-lane stretch of the canal, forcing the officials to redirect other vessels in the convoy to the other lane.
It said the canal’s tugboats managed to float the south-bound vessel, which carries cargo weighing 43,000 tons. The Coral Crystal then resumed its voyage, the canal said.
Officials have not said what caused the vessel to run aground.
The ship was built in 2012 with a length of nearly 225 meters (738 feet) and a width of over 32 meters (104 feet). It was en route to Port Sudan on the Red Sea, according to Traffic Marine, a vessel tracking firm.
Thursday’s incident came less than six months after the massive Panama-flagged Ever Given ran aground in the single-lane stretch of the canal. The hulking vessel blocked the canal for six days before being released in a massive salvage effort by a flotilla of tugboats.
The blockage earlier this year disrupted global shipment. About 10% of world trade flows through the canal, a pivotal source of foreign currency to Egypt. Some 19,000 vessels passed through the canal last year, according to official figures.
In this March 28, 2021 photo, released by the Suez Canal Authority, tug boats and diggers work to free the Panama-flagged, Japanese-owned Ever Given, which is lodged across the Suez Canal. (Suez Canal Authority via AP, File)
The company behind Squishmallows says Build-A-Bear's new Skoosherz toys are a copy of their own plushies. Build-A-Bear filed their own suit basically responding, "No they're not!"
While tech employees worry about artificial intelligence taking over their jobs, Microsoft says Iran, North Korea, and more U.S. adversaries are beginning to use AI in cyber spying.
The self-proclaimed "only Post who worked at Kellogg" was a military veteran who fought in World War II before inventing everyone’s favorite fruit-filled breakfast ravioli.
Kevin Gordon, Senior Investment Research Manager at Charles Schwab, shares his thoughts on how investors can take advantage of the current bull market while keeping in mind the impacts of Fed policy and inflation.
Lab-created diamonds come with sparkling claims: that they are ethically made by machines running on renewable energy. But many don't live up to these claims or don't respond to questions about their electricity sources, and lab diamonds require a lot of electricity.
Geoff Freeman, president and CEO of the U.S. Travel association, explains why other nations are outcompeting the U.S., and the innovations that would put American back on top.
Tony Drake, founder of Drake & Associates, breaks down the latest CPI report, why ‘inflation is still trending down,’ and why the Fed doesn’t want to cut rates too soon.