OPINION
Market Rating Before FOMC MeetingJan 31
Another Ship Runs Aground In The Suez Canal After 1.5 Years
The Suez Canal, one of the most important trade routes in the world, was closed to traffic due to a ship that ran aground 1.5 years after the 6-day crisis caused by the Ever Given ship.
It was reported that the oil tanker, which set off from Portugal in the evening hours of the day we left behind, and went to Yanbu Port in Saudi Arabia, encountered a technical problem in the guidance systems while passing through the canal and ran aground slightly due to the strong wind, and the sea traffic in the southern part of the canal stopped.
Rescue works started immediately after the ship ran aground. It was announced by the authorities that the ship was successfully floated by tugboats in the canal in about 14 hours and the maritime traffic was returned to normal.
The Panama-flagged container ship 'The Ever Given' was stuck in the Suez Canal for 6 days on March 23, 2021, and one person died during the rescue operations. Ever Given, which resumed its voyage after a 6-day pause, disrupted global trade, costing 12-14 million dollars and forcing 48 ships to seek alternate routes.
The Suez Canal, which took ten years to build with the assistance of approximately one million Egyptians, opened to ship traffic on November 17, 1869. It measures 193 kilometers in length, 220 meters in width, and 24 meters in depth. It is one of the world's most important waterways, connecting the east and west in oil, natural gas, and cargo transportation.
The tanker's congestion triggered the first market reflex that the Ever Given crisis would reoccur and disrupt international supply chains. It caused pressure, especially in energy commodities and US indices. However, after about 14 hours of work, it was seen that the worries in the markets were smoothed by the refloating of the ship.
However, the pressure on assets with global recessionary pricing has not subsided. Indeed, brent oil has dropped to $ 93.50 per barrel and has lost nearly 2% per day. The S&P 500 index, on the other hand, is down 1% at 3920 points.
It was reported that the oil tanker, which set off from Portugal in the evening hours of the day we left behind, and went to Yanbu Port in Saudi Arabia, encountered a technical problem in the guidance systems while passing through the canal and ran aground slightly due to the strong wind, and the sea traffic in the southern part of the canal stopped.
Rescue works started immediately after the ship ran aground. It was announced by the authorities that the ship was successfully floated by tugboats in the canal in about 14 hours and the maritime traffic was returned to normal.
The Panama-flagged container ship 'The Ever Given' was stuck in the Suez Canal for 6 days on March 23, 2021, and one person died during the rescue operations. Ever Given, which resumed its voyage after a 6-day pause, disrupted global trade, costing 12-14 million dollars and forcing 48 ships to seek alternate routes.
The Suez Canal, which took ten years to build with the assistance of approximately one million Egyptians, opened to ship traffic on November 17, 1869. It measures 193 kilometers in length, 220 meters in width, and 24 meters in depth. It is one of the world's most important waterways, connecting the east and west in oil, natural gas, and cargo transportation.
The tanker's congestion triggered the first market reflex that the Ever Given crisis would reoccur and disrupt international supply chains. It caused pressure, especially in energy commodities and US indices. However, after about 14 hours of work, it was seen that the worries in the markets were smoothed by the refloating of the ship.
However, the pressure on assets with global recessionary pricing has not subsided. Indeed, brent oil has dropped to $ 93.50 per barrel and has lost nearly 2% per day. The S&P 500 index, on the other hand, is down 1% at 3920 points.
