Grounded Ship in Suez Canal Successfully Refloated

A large ship, Xin Hai Tong 23, was briefly stranded in the Suez Canal due to an engine malfunction, but was successfully refloated by tugboats. The incident disrupted at least two convoys of ships, but shipping activity on both directions is expected to return to normal soon. The Suez Canal is one of the world's busiest shipping lanes, with approximately 12% of the world's trade moving through it. The incident has revived concerns about a disruption to global trade, especially after the six-day blockage caused by the Ever Given in March 2021.