Ships were moving through the Suez Canal again days after tugs refloated the Ever Given container carrier, which blocked the passage for almost a week.
The initial backlog of 422 ships was estimated to take three-and-a-half days to clear, the passage's chairman and Egypt's President Abdel Fattah El Sisi said on Tuesday.
-
Egyptian President Abdel Fatah El Sisi arrives in Ismailia city to inspect the Suez Canal Authority and follow up on the resumption of navigation through the canal. He also discussed tensions with Ethiopia. -
Egypt's President Abdel Fatah El Sisi disembarks in Ismailia city to inspect the Suez Canal Authority. -
A container ship starts moving in the Suez Canal, in Ismalia, Egypt. EPA -
A container ship navigates Egypt's Suez Canal, a day after the Ever Given cargo vessel was dislodged from its banks. AFP -
A ship is seen after sailing through Suez Canal as traffic resumes after a container ship that blocked the waterway was refloated, in Ismailia. Reuters -
A ship sails through Suez Canal as traffic resumes after a container ship that blocked the waterway was refloated, Egypt. Reuters -
A man waves the Egyptian flag after the Panama-flagged MV 'Ever Given' container ship was fully dislodged from the banks of the Suez. AFP
Independent experts suggested the backlog could take up to 10 days to move through but by Wednesday afternoon, Leth Agencies, an organisation that monitors maritime traffic, said that the number of ships waiting to transit the canal had fallen to 292.
The blockage of the canal as well as the potential backlog has already struck the global economy, affecting markets, shipping and consumers.
According to Lloyd's List, a journal focused on shipping news, each day of blockage disrupts goods worth more than $9 billion, translating to about $400 million an hour.
Mr El Sisi paid a visit to the sight of the blockage where he reiterated the importance of the major waterway.
He said: "The accident showed the world the importance of the Suez Canal after some people spoke about alternative routes."
Mr El Sisi's faith in the continued use of the Suez Canal and his insistence at the need for the structure came just a day before investigators began an inquiry into why the massive container carrier got stuck.
Experts boarded the ship on Tuesday looking for potential damage and answers to what may have caused the ship to run aground.
Since being freed, the Ever Given is in Egypt's Great Bitter Lake, just north of the site where it previously blocked the canal.
