Stuck Ship Thrusts Sleepy Suez Canal Village into Limelight

Ever Given, a Panama-flagged cargo ship that is wedged across the Suez Canal and blocking traffic in the vital waterway is seen March 29, 2021 (AP)
Ever Given, a Panama-flagged cargo ship that is wedged across the Suez Canal and blocking traffic in the vital waterway is seen March 29, 2021 (AP)
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Stuck Ship Thrusts Sleepy Suez Canal Village into Limelight

Ever Given, a Panama-flagged cargo ship that is wedged across the Suez Canal and blocking traffic in the vital waterway is seen March 29, 2021 (AP)
Ever Given, a Panama-flagged cargo ship that is wedged across the Suez Canal and blocking traffic in the vital waterway is seen March 29, 2021 (AP)

The sleepy farming village of Amer overlooks the Suez Canal, one of the world’s most important waterways. Last week, the village was suddenly thrust into the limelight after a massive container ship, the Ever Given, got stuck nearby.

The contrast between tranquil village life and the busy artery of global shipping is stark.

Farmers in Amer eke out a living tending to small fields and livestock, while before them pass behemoths of world trade — vessels carrying millions of dollars’ worth of cargo.

But the canal is also a source of intense pride for residents of the area, including the nearby town of Suez. They call it “our canal” and the older ones still remember then-President Gamal Abdel Nasser’s decision in 1956 to nationalize the canal despite fierce pressure from Western powers.

“I was five or six years old, celebrations were everywhere,” said Abdel-Wahab, 71, who works as a waiter in Suez. “It was like you freed your son who was taken against your will.”

The village, along with other areas along the western bank of the canal, was abandoned during the 1967 Middle East war and its residents were only allowed to return in the 1970s.

They are now rooting for canal authorities as they battle to dislodge the vessel.

It was a windy morning when the Ever Given — one of the world’s largest container ships — got wedged sideways in a single-lane stretch of the canal last Tuesday.

Amer resident Fatima was feeding poultry on the roof of her three-story home when she saw the massive ship sitting motionless in the canal. At first, she didn’t think it was unusual.

“Sometimes, one vessel stops for a reason or another,” the elderly woman said Sunday,

Dressed in a dark blue jalabiya, or traditional loose-fitting garment, she was sitting at the gate of her house with a neighbor. The women were chatting and drinking tea.

Almost a week after the accident, tug boats and dredgers, taking advantage of high tides, partially floated the Ever Given on Monday, but it remains unclear how long it would take to set it free.

The pointed bow of the Panama-flagged, Japanese-owned vessel remains stuck on sandy clay along the canal bank. Experts said that despite the partial success, the worst option — having to remove containers from the vessel to lighten the load — is not yet off the table.

The giant ship carries some 20,000 containers. Taking them off would likely add even more days to the canal’s closure, further disrupting a global shipping network. A prolonged closure would cause delays in the global shipment chain. The canal handles some 10% of the world trade flow. Last year, some 19,000 vessels passed through it, according to official figures.

The closure could affect oil and gas shipments to Europe from the Middle East. Already, Syria has begun rationing the distribution of fuel in the war-torn country because of delayed shipments.

Over the past week, the salvage efforts have been the main topic of conversation in Amer, home to several thousand people who grow clover and cabbage and tend to water buffaloes, cows, goats and sheep.

“We have not seen anything like that before,” Abdel-Wahab, the waiter, said of the Ever Given’s misfortune.

Journalists have been visiting the village, in part to get a better view of the vessel.

“For sure, you’re coming for the ship,” whispered a farmer to a reporter. His donkey cart was sitting in the middle of a narrow road just a few dozen meters (yards) from the vessel.

“It’s there, standing like the mountain,” said another man when asked how to get closer to the ship.

Villager Mohammed Said, 72, who works in Suez as a garbage collector, said the grounding of the Ever Given is unique in the canal’s history, and that he hopes the vessel can be dislodged quickly.

“It’s a tragedy impacting not only Egypt, but the whole world,” he said.



COP29 - How Does $300 Billion Stack up?

A demonstrator sitting on the ground holds a poster during a climate protest in Lisbon, to coincide with the closing of the COP29 Climate Summit Saturday, Nov. 23, 2024. (AP)
A demonstrator sitting on the ground holds a poster during a climate protest in Lisbon, to coincide with the closing of the COP29 Climate Summit Saturday, Nov. 23, 2024. (AP)
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COP29 - How Does $300 Billion Stack up?

A demonstrator sitting on the ground holds a poster during a climate protest in Lisbon, to coincide with the closing of the COP29 Climate Summit Saturday, Nov. 23, 2024. (AP)
A demonstrator sitting on the ground holds a poster during a climate protest in Lisbon, to coincide with the closing of the COP29 Climate Summit Saturday, Nov. 23, 2024. (AP)

Countries agreed at the UN's COP29 climate conference to spend $300 billion on annual climate finance. Here are some ways of understanding what that sum is worth:

MILITARY MIGHT

In 2023, governments around the globe spent $6.7 billion a day on military expenditure, according to the Stockholm International Peace Research Institute.

That means the $300 billion annual climate finance target equates to 45 days of global military spending.

BURNING OIL

$300 billion is currently the price tag for all the crude oil used by the world in a little over 40 days, according to Reuters calculations based on global crude oil demand of approximately 100 million barrels/day and end-November Brent crude oil prices.

ELON MUSK

According to Forbes, Elon Musk's net worth stood at $321.7 billion in late November. The world's richest man and owner of social media platform X has co-founded more than half a dozen companies, including electric car maker Tesla and rocket producer SpaceX.

STORM DAMAGE

Hurricane Katrina, one of the most devastating and deadliest cyclones in US history, caused $200 billion in damage alone in 2005.

This year's climate-fueled Hurricane Helene could end up costing up to $250 billion in economic losses and damages in the US, according to estimates by AccuWeather. While preliminary estimates by Morningstar DBRS suggest Hurricane Milton, also supercharged by ocean heat, could cost both the insured and uninsured nearly $100 billion.

BEAUTY BUYS

The global luxury goods market is valued at 363 billion euros ($378 billion) in 2024, according to Bain & Company.

COPPER PLATED

The GDP of Chile - the world's largest copper producing country - stood at $335.5 billion in 2023, according to World Bank data.

GREECE'S BAIL OUT

Euro zone countries and the International Monetary Fund spent some 260 billion euros ($271 billion) between 2010 and 2018 on bailing out Greece - the biggest sovereign bailout in economic history.

BRITISH BONDS

Britain's new government needs to borrow more to fund budget plans. Gilt issuance is expected to rise to 296.9 billion pounds ($372.05 billion) for the current financial year.

TECH TALLY

A 10% share of tech giant Microsoft is worth just over $300 billion, according to LSEG data. Meanwhile the market cap for US oil major Chevron stood at $292 billion.

CRYPTO

The annual climate finance target amounts to 75% of the total value of the global market for crypto currency Ether, the world's second-largest cryptocurrency.

Alternatively, 3 million Bitcoin would cover the annual climate finance target as the world's largest cryptocurrency closes in on the $100,000 mark following a rally fueled by Donald Trump winning the Nov. 5 US presidential election.