THIS is the jaw-dropping moment an out-of-control 700ft cargo ship smashes into Suez Canal port, sending workers fleeing for their lives.

Terrifying footage captured the Liberian-flagged RED ZED 1 getting caught in shallow water after a “sudden steering failure”.

The video shows the gargantuan ship headed for Sudan slowly veer into the Egyptian port as onlookers started running for their lives.

Massive waves formed as the ship edged closer and closer, brushing up to the side of the port.

But the vessel couldn’t be stopped as it collided into the dock, with animals even captured racing to safety.

The Suez Canal Authority (SCA) confirmed the ship had gone off course – but didn’t cause too much damage.

It said on Saturday: “The incident did not result in any human losses or injuries, and the crisis was fully managed in a record time of 60 minutes.”

The crew were able to avert terrifying disaster by turning the vessel away from the dock, meaning only the side was scraped.

There were no injuries or casualties reported.

Passengers were quickly evacuated, according to local media.

The SCA added how three tugboats were deployed “immediately” to sort the emergency and prevent any future damage or harm.

They were able to position the massive chip mid the waterway and security it after crew did repairs to it.

The vessel is a whopping 700ft high, a beam over 140ft and gross tonnage of 41,000 tonnes.

It was moving through the canal as it made its journey from the Netherlands to Sudan.

Just last month, a Mexican Navy ship crashed into the famous Brooklyn Bridge, sending families running for their lives.

The ship snapped all three of its masts as it collided with the New York City landmark leaving two people dead and 19 wounded.

Footage shows the ship, named the Cuauhtemoc, moving rapidly in reverse towards the bridge, close to the Brooklyn side of the East River.

Suddenly, its three masts struck the bridge and snapped one by one as the ship continued to move.

Onlookers are seen slowly backing away from the walking path by the river, before screaming and running to safety the moment the boat hit the bridge.

The Brooklyn Bridge, which opened in 1883, has a nearly 490-meter main span supported by two masonry towers.

More than 100,000 vehicles and an estimated 32,000 pedestrians cross every day, according to the city’s transportation department.