The Details Regarding the Ship Stuck in the Suez Canal

On March 23, 2021, a 220,000 ton ship coming from China wedged itself sideways into a slim section of the Suez Canal, located in Egypt. The ship “The Ever Given”, is a 1,300 foot container ship that was headed to Europe to transport cargo, but unfortunately wreaked havoc in the canal. CNBC’s Lori Ann LaRocca says that transportation difficulties were occurring as a result of the blockage, leaving other ships unable to enter the canal and travel to their destination.

While uncertainty regarding the ship’s plans to disembark and resume its mission flooded the media, over 450 other ships were waiting for passage. According to USA Today, this situation was difficult and required the removal of 30,000 cubic meters of sand from the canal, which is costing the ship’s owners millions to perform reconstruction. IThe BBC reported that Osama Rabie, the Suez Canal authority Chairman, estimated the destruction allowed for revenue to plummet $15 billion dollars a day. 

This disruption was not taken lightly, as it delayed many transports to US ports. Within the US market, over one third of imports come from other countries and transit through the Suez Canal, Greg Miller of Freight Waves mentioned. Now, as ships are arriving at local ports to deliver transports, the areas are crowded and chaotic. Along with the chaos and stress the blockage endured, Rick Gladstone of BBC News says in a statement “Shipping analysts estimated that the traffic jam had held up nearly $10 billion in trade every day.” The loss was uncalled for and many countries’ economies took a hit.

Due to port congestion, delayed arrivals and messy equipment, a lot more is affected than just the canal. Transportation rates are now being raised in order to assist the situation and get the economy back on track. The USA, along with various other countries, are still being affected despite the removal of the ship, because of all the delays, missing transports and confusion.