Finance

Suez Canal blocked by massive ship brings billions in trade to a standstill

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An excavator attempts to free stranded container ship Ever Given, one of the world’s largest container ships, after it ran aground, in Suez Canal, Egypt March 25, 2021.

Suez Canal Authority | Reuters

The massive container ship Ever Given has been stuck in the Suez Canal for three days, halting billions of dollars in trade as vessels pile up at both ends of the waterway.

More than 150 ships are waiting to pass through the 120 mile canal, according to estimates from research firm StoneX.

Images captured from vessel tracker MarineTraffic show the extent of the buildup.

A graph from MarineTraffic showing shipping traffic halted around the Suez Canal after the ship Ever Given became wedged in the…



Source cnbc.com

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