Supramax vessel grounded in Suez Canal re-floated

A supramax dry bulk vessel that ran aground in the Suez Canal overnight has been re-floated, shipping agent Leth Agencies told Argus.

The Xin Hai Tong 23, which originated fromPort Duba, Saudia Arabia according to vessel tracker Marine Traffic, was part of a north-bound early convoy of 14 vessels that started transit through Egypt's Suez Canal at 2am local time (00:00 GMT).

Nine vessels entered the Suez Canal, but the Xin Hai Tong 23 was grounded at 4am local time, leaving behind four vessels from the early convoy in addition an "ordinary group" that was planned to enter the canal around 6am, the agency said in a tweet.

The vessel was re-floated at 7.40am Egypt time, while the rest of the convoy will resume its transit at 9.30am, Joish Paul, regional director of Leth Agencies (Singapore) told Argus.

The 2010-built Xin Hai Tong 23 is a 56,708 deadweight tonne (dwt) Supramax dry bulk carrier sailing under the flag of Hong Kong.

It typically takes one to two days for vessels to pass through the canal, which is one of the main transit points for oil and LNG heading from the Middle East to Europe and the Americas, and for Atlantic basin cargoes heading to the Asia-Pacific. Flows through the Suez Canal and Egypt's Sumed pipeline account for around 10pc of global seaborne oil trade, according to the US Energy Information Administration (EIA).

Container ship Ever Given had blocked the Suez Canal for about a week in late March after running aground. Freight market participants were concerned about the possibility of the Xin Hai Tong 23 incident being "as serious as Ever Given". The Ever Given disruption had caused crude futures prices to rise, and delayed the voyage of at least 367 vessels. These included 35 crude tankers, 14 product tankers, 98 bulk carriers, 26 chemical tankers, 16 LNG and 10 LPG carriers, among others.

By Sean Zhuang and Andrew Khaw