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Suez Canal says traffic in channel resumes after stranded ship refloated

reuters.com

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Re: Suez Canal says traffic in channel resumes after stranded ship refloated

#211

Post by dustingetz »

stcredzero wrote: post #178
JosephRedfern wrote: post #62

Lots of articles quote a $XXX billion dollars per day figure, but those numbers are normally for "worth of goods delayed" which, while interesting, doesn't tell the story to me. Are there any estimates as to the actual cost of this "mishap", due to e.g. spoilage, financial/contractual repercussions of late deliveries, personnel/fuel costs?

those numbers are normally for "worth of goods delayed" which, while interesting, doesn't tell the story to me Is it just me, but hasn't the mainstream financial news over the years taken on the feel of reality television? The talking heads are usually pushing some sort of narrative . Occasionally, reality overwhelms their ability to spin things, and they have to readjust and do damage control, as sometimes happens t…

principle agent problem and always has been ... what’s stunning is that civilization manages to create some amount of value despite this ... imagine what the world would be like if humans learned how to actually cooperate at scale and maximize long term in an antifragile way

Re: Suez Canal says traffic in channel resumes after stranded ship refloated

#212

Post by acqq »

hilbert42 wrote: post #149
foxes wrote: post #86

What a surprise it didn’t need nuclear ordinance or building giant elaborate dams or millions of helicopters.

It's been blocked before but for a lot longer (from late 1956 to early 1957—about five months) during the Suez Crisis: https://en.wikipedia.org/wiki/Suez_Crisis That was a really big deal—more so than this one, I still remember the daily radio news reports and huge newspaper headlines from when I was a young kid. It was an international crisis that dragged on for months and months.

The "crisis" was actually a war in which the UK, France, and Israel invaded Egypt:

https://en.wikipedia.org/wiki/Suez_Canal#Suez_Crisis

"To save the British from what he thought was a disastrous action and to stop the war from a possible escalation, Canadian Secretary of State for External Affairs Lester B. Pearson proposed the creation of the first United Nations peacekeeping force to ensure access to the canal for all and an Israeli withdrawal from the Sinai Peninsula. On 4 November 1956, a majority at the United Nations voted for Pearson's peacekeeping resolution, which mandated the UN peacekeepers to stay in Sinai unless both Egypt and Israel agreed to their withdrawal. The United States backed this proposal by putting pressure on the British government through the selling of sterling, which would cause it to depreciate. Britain then called a ceasefire, and later agreed to withdraw its troops by the end of the year. Pearson was later awarded the Nobel Peace Prize."

Re: Suez Canal says traffic in channel resumes after stranded ship refloated

#213

Post by ceejayoz »

tyingq wrote: post #191
JosephRedfern wrote: post #62

Lots of articles quote a $XXX billion dollars per day figure, but those numbers are normally for "worth of goods delayed" which, while interesting, doesn't tell the story to me. Are there any estimates as to the actual cost of this "mishap", due to e.g. spoilage, financial/contractual repercussions of late deliveries, personnel/fuel costs?

Still not what you're asking for, but the analysis here looks like it's done by people who understand this sort of thing: https://lloydslist.maritimeintelligence.informa.com/LL113622...

This seems to be the key bit:

> If the canal does reopen quickly, vessels waiting now should be able to make up time without too much disruption to the supply chain, which is already weighed down by port congestion and inland transportation delays.

Re: Suez Canal says traffic in channel resumes after stranded ship refloated

#214

Post by nowandlater »

lisper wrote: post #187
chipsambos wrote: post #179

Earlier quoted context omitted.

Agree it's incalculable, I don't mean that in the "it's too big of a number" sort of way but in the "we can't possibly know" kind of way: 1) The scale and depth of the disruption makes it impractical to figure in any kind of accurate way and 2) The disruption will have introduced hypotheticals that nay spiral out themselves (butterfly effect style) e.g. some retailer may have lost a customer who went elsewhere, some…

You can get a rough idea by thinking of this as if it were a natural disaster, and from that perspective I think the toll is probably not too bad. No casualties, very little property damage, and a week is not really all that long. However... that is no excuse to shrug this off. We were very, very lucky that it was only a week. The ship could easily have broken in two, which would have been a catastrophe of the first…

That's no joke. Salvage operations is such a fascinating topic, which I'm sure many (me included) found themselves quickly obsessed with. The sagging and hogging threshold of this ship is the critical key here. I'm curious how close/or not the hull came to being compromised.

Re: Suez Canal says traffic in channel resumes after stranded ship refloated

#215

Post by gambiting »

JoeAltmaier wrote: post #132
exikyut wrote: post #90

Oh hey, they fixed it, - without destroying or imposing significant additional damage to any of the cargo - without destroying or imposing significant additional damage to the ship - without taking multiple weeks - without needing to ship a trillion dollars'+ worth of equipment halfway around the world It's refreshing to see high-end engineering performed so competently.

About the cargo part - it's entirely possible that some cargo is non-viable. It is going to be onboard days longer than predicted. Anything even faintly perishable may be degraded. But good news for sure!

Container ships can easily have an unpredicted wait of 1-2 weeks just entering port, happens all the time and isn't major news. Few days in the Suez canal isn't going to do anything to cargo.

Re: Suez Canal says traffic in channel resumes after stranded ship refloated

#216

Post by hanche »

justinator wrote: post #205
hanche wrote: post #177

Earlier quoted context omitted.

I suspect that many (but not all) of the “crazy” suggestions were a bit tongue-in-cheek.

Which I think is fine? Isn't it fun to imagine how you would unstick a huge boat, even if your idea is totally off the mark due to a bad application of lateral thinking? Be it helium balloons or falcon heavy lifting rockets.

Oh yes, great fun to be had by all. You'll hear no complaints from me.

Re: Suez Canal says traffic in channel resumes after stranded ship refloated

#218

Post by BelmundoRegal »

jethro_tell wrote: post #165
IgorPartola wrote: post #130

Earlier quoted context omitted.

You know, I used to think that HN was a collection of some of the smartest people on the Internet. Don’t get me wrong, there are some incredible people here. But I guess what I have learned over the past 10 years is that HN has as many blind spots as any other online forum. If you want SV advice, this is the place to be. If you want to dislodge a stuck mega ship, look elsewhere.

There's a whole industry around ship recovery and they know how to do things like patch things back together with some light underwater welding and then pump the water back out the hole in the bottom with compressed air. Lots of times, this is done while the ship is busy worrying itself to death on a reef. Ship salvage is a combination of batshit crazy and real-time engineering marvel with a healthy dose of understan…

Reminded me of the Kathryn Spirit ; "After years of immobility, the federal government awarded an $11-million contract last year to a conglomeration of businesses to dismantle the ship. Ironically, one of the companies picked was the same one that abandoned the wreck in 2011."

Where: "years"=8

"Built in 1967, the Kathryn Spirit has not had an owner since 2015, at which point the federal government took control. The ship, which had been used as a cargo ship in the past, had been towed to Beauharnois in 2011 by the Groupe St-Pierre, which wanted to dismantle it in the St. Lawrence River to then sell the scrap metal."

https://www.westislandblog.com/abandoned-vessel-kathryn-spir...

Re: Suez Canal says traffic in channel resumes after stranded ship refloated

#219

Post by arwineap »

Clewza313 wrote: post #156
emilssolmanis wrote: post #88

Earlier quoted context omitted.

Slaves, lots and lots of slaves, many of whom died. Exactly as you'd imagine something of epic proportions being made in the 19th century.

It was built with corvee labor, which is not quite the same thing: unpaid, yes, but done by farmers etc as a form of taxation in kind.

Taxation imposed by the state, but I haven't been able to find any citation of a tax code so to speak.

It seems like state sponsored slavery, without a trade. That is no persons are being sold because they are simply using citizens

Brutal.

Re: Suez Canal says traffic in channel resumes after stranded ship refloated

#220

Post by spoonjim »

viztor wrote: post #186
JosephRedfern wrote: post #62

Lots of articles quote a $XXX billion dollars per day figure, but those numbers are normally for "worth of goods delayed" which, while interesting, doesn't tell the story to me. Are there any estimates as to the actual cost of this "mishap", due to e.g. spoilage, financial/contractual repercussions of late deliveries, personnel/fuel costs?

I don't think there will be any spoilage, the goods travelled through sea are never fresh.

LOL. The fruits in American grocery stores are not airlifted in from Brazil.
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