Insurer Allianz said incidents in the Suez Canal, such as the recent grounding of an ultra-large containership, are rare and the waterway’s safety record has been improving.

The comments came in the wake of two high-profile incidents.

The grounding of the 20,388-teu Ever Given (built 2018) has caused a massive blockage of shipping traffic between Asia with Europe, as TradeWinds reported earlier on Wednesday.