Shipping Firms Pull Back from Hong Kong to Skirt US-China Risks
Some shipping companies are discreetly moving operations out of Hong Kong and taking vessels off its flag registry. Others are making contingency plans to do so.
A Canadian-flagged bulk carrier, the Tim S. Dool, is currently hard aground on the U.S. side of the St. Lawrence River, prompting a complex salvage operation.
The grounding occurred Saturday at approximately 12:30 p.m. near Crysler Shoal, as the vessel was carrying a cargo of Canadian wheat.
The 57-year-old bulk carrier, owned by Algoma Central Corporation, remains stable outside the navigation channel. Officials report no injuries, water intake, or environmental concerns, and navigation on the St. Lawrence Seaway continues to operate normally.
“Work is underway to finalize a salvage plan,” said the Canadian-based St. Lawrence Seaway Management Corporation.
Recovery efforts are expected to focus on lightening the vessel’s load with tugs on standby.
Maritime expert Michael Folsom of the Seaway Ship Watchers Network explains the challenge ahead: “The bow of Tim S Dool is about 3 ft out of the water from where it would be if in the channel. It will take a lot of this load coming off the ship in order to refloat,” he wrote on X.
The cause of the grounding remains under investigation, with authorities confirming no other vessels were involved in the incident.
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