According to Osama Rabie, chairman of the Suez Canal Authority (SCA), at least 321 vessels are currently stranded around Egypt's Suez Canal, awaiting the salvage of the giant container ship Ever Provided, which has been stuck and blocking the vital waterway since Tuesday.

"There are currently 321 ships waiting, whether in the north, south or in the Great Lakes. We provide them with all of the logistical support they need "During a press conference in Suez, Egypt's northeastern province, the SCA chief said.

"It's difficult to say when the problem will be solved because, as I said, the ship is enormous with a large cargo and is stuck in a shallow area," Rabie said.

He stated that Ever Given is being rescued by 14 tug boats from all directions.

"There were signs of progress last night... to the point that we were really optimistic that the salvage will be completed last night," the SCA chief said, adding that the authority is prepared with many scenarios to refloat the mega-ship, which has caused "a major crisis."

The 224,000-ton Panama-flagged Ever Given became stuck in the canal on Tuesday after losing its ability to steer due to high winds and a sandstorm, prompting the SCA to suspend navigation in the man-made waterway on Thursday.

Rabie claimed that after the rescue operation is finished, an inquiry into the exact cause of the accident will be performed.

Ever Given's owner has employed Dutch company Boskalis and its emergency response team Smit Salvage to assist the SCA in the rescue operations.

The Suez Canal, which connects the Mediterranean Sea and the Red Sea, is a big lifeline for global seaborne trade because it enables ships to sail between Europe and South Asia without passing through Africa, cutting the gap between Europe and India by around 7,000 kilometers.

The Suez Canal carries about 12% of all global trade.