Egypt, cargo runs aground in the Suez Canal

A cargo ship ran aground in the Suez Canal, the strategic waterway that connects Asia to Europe by sea: the shipping company, the Norwegian Leth, reported it on Twitter.

"The M/V Glory ran aground" sailing south "near Alaqantarah. Suez Canal Authority tugs are currently attempting to refloat the vessel," the tweet merely informs.

In 2021, the 400-metre-long, 220,000-ton freighter "Ever Given" ran aground blocking the canal for six days and disrupting global supply chains with repercussions that lasted for months.

Using the canal saves a three-week detour to circumnavigate Africa, but is only about 200 meters wide and 24 meters deep in places. About 12% of global trade passes through the Suez Canal with a daily flow of goods worth $10 billion, according to Lloyd's List.

At the time of the Ever Given grounding, US-UK global financial market infrastructure and data provider Refinitiv estimated that Egypt's lost tolls amounted to nearly $100 million.