Oil tanker breaks down in Egypt's Suez Canal, briefly disrupting traffic in the global waterway

A tanker transporting crude oil broke down in a single-lane part of Egypt's Suez Canal on Sunday, briefly disrupting traffic in the global waterway, Egyptian authorities said.
The Malta-flagged Seavigour suffered a mechanical malfunction at the 12 kilometres (7.5 miles) mark of the canal, said George Safwat, a spokesperson for Egypt's Suez Canal Authority. The tanker was transiting the canal from the Mediterranean to the Red Sea
In a phone interview with a local television station, Adm. Ossama Rabei, head of the Suez Canal Authority, said the tanker broke down in a single-lane part of the waterway, disrupting the transit of eight other vessels behind it.
Hours later, Rabei said in a statement that navigation at the canal had returned to normal after three tugboats towed the tanker to a double-lane part at the 17 kilometres (10.5 miles) mark. He said that the Seavigour 's crew was working on repairing the malfunction but did not share further details.
The Seavigour was built in 2016, and is 274 metres (899 feet) long and 48.63 metres (159 feet) wide, according to MarineTraffic, a vessel tracking service provider
Sunday's incident was the latest case of a vessel reported stuck in the vital waterway. A flurry of ships ran aground or broke down in the Suez Canal over the past few years.
On May 25, a Hong Kong-flagged ship briefly blocked the canal. On March 5, a Liberia-flagged ship ran aground in the two-lane part of the waterway. Both vessels were refloated hours later.
In March 2021, the Panama-flagged Ever Given, a colossal container ship, crashed into a bank on a single-lane stretch of the canal, blocking the waterway for six days and disrupting global trade.
The canal, which opened in 1869, provides a crucial link for oil, natural gas and cargo. About 10% of world trade flows through the canal, a major source of foreign currency for the Egyptian government.
According to the Suez Canal Authority, last year, 23,851 vessels passed through the waterway, compared to 20,649 vessels in 2021. The revenue from the canal in 2022 reached US$8 billion, the highest in its history.
YOUR FINANCES

Statistics Canada says household debt ratio down in Q2 as income grew
Statistics Canada says the amount Canadians owe relative to how much they earn fell in the second quarter as disposable income comfortably outpaced the growth in debt and demand for mortgages fell.

How electric vehicle insurance compares to gasoline-powered vehicles
As Canada ushers in the era of electric vehicles, here's what costs and factors you should consider before making the switch.

OPINION 6 ways to prepare your finances for a potential recession
Despite Canada's economic resilience in the face of rising interest rates, it's still important to be prepared in case a recession hits. In a column for CTVNews.ca, personal finance contributor Christopher Liew shares some practical tips and actionable advice to better weather any economic storm.
Back-to-school: Parents offer tips on how they save during annual shopping spree
A new survey found 46 per cent of Canadians are more worried about their finances during this back-to-school season than in previous years.
opinion Canada can dodge a recession, but it could still happen; here's why
In his column for CTVNews.ca, personal finance contributor Christopher Liew outlines how Canada might avoid a recession, as well as some risks that could contribute to one.
Budgeting important part of RESP spending plan as students head to school
Parents across the country are getting ready to tap into registered education savings plans to help pay for their children's post-secondary schooling this fall.
Turning to dollar stores for groceries? Here's what a dietician recommends
As Canadians continue to feel the financial toll of inflation while grocery shopping, one registered dietitian offers practical tips for cutting costs at dollar stores, without compromising nutrition.
OPINION Financial tips for newcomers to Canada, from an expert
For those who have recently immigrated to Canada, it's important to learn the basics of how the country's financial system works. Personal finance contributor Christopher Liew shares some financial tips around how to open a bank account, build your credit and file your taxes as a newcomer.
CTVNews.ca Top Stories

Judge rules Donald Trump defrauded banks, insurers while building real estate empire
A judge ruled Tuesday that Donald Trump committed fraud for years while building the real estate empire that catapulted him to fame and the White House.
Anthony Rota resigns as House Speaker amid condemnation for inviting Nazi veteran to Parliament
Anthony Rota has resigned from his prestigious position as Speaker of the House of Commons over his invitation to, and the House's subsequent recognition of, a man who fought for a Nazi unit during the Second World War. Now, Prime Minister Justin Trudeau is facing calls to apologize, and investigate.
ER doctor challenging 'toxic environment' in Ontario hospital after secret investigation based on unfounded murder allegation
After more than 30 years of caring for critically ill patients in emergency and intensive care, Dr. Scott Anderson is preparing to face off against the hospital where he works in London, Ont., in a case described as "unusual" by lawyers and potentially costly for Ontario taxpayers.
How was veteran Yaroslav Hunka's military unit linked to the Nazis?
During the height of the Second World War, Nazi Germany formed a division of Ukrainian volunteers to fight against Soviet Russia. One of its members was controversially honoured with two standing ovations in Canada's Parliament this week.
15 potential gravesites found near former Yukon residential school
Yukon First Nation elder Sandra Johnson says the discovery of 15 potential graves near the site of a former residential school has "uncovered long-buried wounds."
Working with federal government to lower food prices a 'benefit' to Canada's grocery leaders: Champagne
Industry Minister François-Philippe Champagne says it's 'an advantage' to grocery leaders to work with the Canadian government to find a way to stabilize food prices as he continues his string of meetings with them this week.
Comedian Rob Schneider cancels trip to Canada after veteran who fought for Nazis honoured in Parliament
Comedian Rob Schneider says he has cancelled an upcoming visit to Canada in light of last week’s incident in which a Ukrainian veteran who fought with a Nazi unit in the Second World War was given a standing ovation in the House of Commons.
2 dead, 4 injured in helicopter crash near Prince George, B.C.
Two people have died and four others were injured after a helicopter crashed near Prince George, B.C., Tuesday morning.
OPINION Tom Mulcair: Why Anthony Rota had no choice but to resign
Anthony Rota had no choice but to resign as House Speaker after he invited a Nazi veteran to Parliament. But, as former NDP leader Tom Mulcair writes in a column for CTVNews.ca, if history is going to retain the profound embarrassment caused by his mistake, it should also recognize the contributions Rota has made to democratic life.