The navigation safety of 10 tankers carrying 13 million barrels of crude oil has been ensured with the resumption of sea traffic through Egypt's Suez Canal, Egypt's Suez Canal Authority confirmed Wednesday.
Passage through the Suez Canal was interrupted following the grounding of a massive container cargo ship as it made its way through a new channel of the canal on Tuesday morning, the Suez Canal Authority said.
The authority cited 'the lack of visibility and bad weather conditions of a dust storm, which led to the loss of the ability to steer the ship.'
Passage through the older channel of the canal has returned to normal and rescue efforts to float the giant Panamanian container ship will continue, the authority said.
Vortexa Analytics, the oil and gas analytics platform, confirmed that delays are likely for the passage of cargo with an approximate backlog rate of 50 vessels per day. Delays leading to re-routings will add 15 days to a voyage from the Middle East to Europe, the platform said.
The canal, considered one of the most important waterways in the world, is the shortest shipping route between Europe and Asia and is one of the main sources of hard currency for Egypt.
Egypt inaugurated the New Suez Canal, which cost $8 billion, in August 2015 as part of plans to revive the country's economy and restore Egypt's position as an important center for trade.
By Busranur Begcecanli