Container ship shuts down Suez Canal after running aground

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A 200k-lb ship suffered a blackout and wrecked along one of the most congested trade waterways in the world Tuesday, blocking traffic in a canal that carries 12% of the global trade volume. Bloomberg reports some 106 ships in wait for the grounded ship to be refloated. On average some 50 ships and 3.2m tons pass through Suez each day.

By Milan Sime Martinic