CAIRO, May 25 (Xinhua) — The Suez Canal Authority (SCA) in Egypt on Thursday refloated a ship grounded in the world’s busiest artificial waterway, according to an SCA statement.

“Three tugboats refloated a large ship that had been stranded in the Suez Canal,” the SCA said.

The SCA rescue team managed to deal with an emergency breakdown in a XIN HAI TONG 23, a 190-meter bulk carrier near the southern end of the canal from Saudi Arabia.

The Suez Canal is a major lifeline for global seaborne trade. Some 12 percent of the world trade volume passes through the artificial canal, a major source of hard currency in Egypt.

In 2021, a 400-meter container ship, Ever Given, was grounded in the Suez Canal for nearly a week, disrupting global trade.