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Gibson Tanker Market Report


Canal Crisis
 
Since Tuesday, the closure of the Suez Canal has dominated mainstream media headlines around the world. At first there was a general sense that the situation would be resolved in a matter of days but here we are on Friday with the vessel still lodged in place. It remains uncertain when it might be removed with the salvors warning it could take weeks. Spring tide over the coming days will offer the best chance of a refloat, but if this is not possible then salvors will have to look at lightering the vessel before the next spring tides in a few weeks’ time. Even when the blockage is removed, a backlog of vessels will need to be cleared, meaning delays will be with us for some time.

2021 03 26 - Canal Crisis

The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.

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