Suez Canal maritime traffic was "normal" on Monday after a Norwegian-owned cargo vessel ran aground but was then refloated and towed away, said the Egyptian authority running the vital waterway.

The M/V Glory, which was sailing to China, suffered a technical fault when it was 38km into its passage southward through the canal, before being towed by four tugs to a repair area, the Suez Canal Authority (SCA) said in a statement.

The Suez Canal, which links Asia and Europe, sees about 10 percent of the world's maritime trade.

In 2021, super tanker Ever Given became wedged diagonally across the canal during a sandstorm, disrupting trade flows for nearly a week.

According to the SCA, Egypt lost between US$12 million and US$15 million every day of the closure, while insurers estimated that global maritime trade suffered billions in lost revenue per day.

Fears of a costly new blockage were sparked on news of the latest incident, first reported on Twitter by Norwegian company Leth, a shipping agency for many vessels in the Suez Canal.

"M/V Glory grounded while joining Southbound convoy near to Alaqantarah," it wrote in a brief message. "Suez Canal Authority tugs are currently trying to refloat the vessel."

However, Leth later also reported that the ship "has been refloated by the Suez Canal Authority tugs".

It added that "21 vessels going southbound will commence/resume their transits. Only minor delays expected." (AFP/Reuters)
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Last updated: 2023-01-09 HKT 17:09