Suez canal blocked by container ship
Global trade has been unsettled after a massive container vessel became wedged in the Suez Canal and blocked passage, possibly for weeks to come.
The 200,000-ton behemoth known as Ever Given ran aground earlier this week when a powerful sandstorm packing winds in excess of 45 mph buffeted the ship and caused it to become lodged between the banks of the critical passageway. Since the incident, officials have been working to dislodge the vessel, although estimates about how long that might take vary from days to weeks.
The passage handles 12% of all global trade, making the incident an immensely costly one for companies across the world and one that has the ability to produce ripple effects across the global economy. The Suez connects the Mediterranean and Red Sea at a “chokepoint,” a narrow stretch that much trade travels through, much like the Panama Canal and the Strait of Hormuz.
Just days into the blockage, shipping costs have exploded to nearly four times what they were last year, according to Bloomberg. The effect on global supply chains is only made worse by the fact that the COVID-19 pandemic has already resulted in delays and shortages for shipping companies worldwide.
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Crews have been trying to free the ship by digging. I think they probably could have a better shot at freeing the ship by taking the containers off the ship and put them on another ship that is floating. That would allow the stuck ship to be lifted by the water.
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