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Shipping

Kimberly Redmond | Equities.com |

Engineers said Monday that they've made a glimmer of progress in "partially refloating" a giant container ship, though it remains stuck sideways in Egypt’s Suez Canal for a seventh day.

The Associated Press cited satellite data from MarineTraffic.com showing that the bow of the Ever Given had been partly moved from shore, though it remained stuck on the eastern bank of the canal.


AP News | Equities.com |

Dredgers, tugboats and even a backhoe failed to free a giant cargo ship wedged in Egypt’s Suez Canal on Thursday. More than 150 vessels are now backed up, with hundreds more headed to the vital waterway, and losses to global shipping are mounting.

The skyscraper-sized Ever Given, carrying cargo between Asia and Europe, ran aground Tuesday in the narrow, man-made canal dividing continental Africa from the Sinai Peninsula. Even helped by high tides, authorities have been unable to push the Panama-flagged container vessel aside, and they are looking for new ideas to free it.