Local agents say the 49,700-dwt Ocean Pegasus(built 2008) is obstructing up and downstream traffic in the shallow waters near kilometre 390.

The cause of the incident and the extent of damage to the vessel is unclear as the casualty occurred only hours ago.

Charterers and grain traders are monitoring the situation closely as an extended disruption of river traffic could have far-reaching implications for freight markets in Argentina and abroad.

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