Energy

Suez Canal cargo ship blockage could cause problems for the globe

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The behemoth cargo ship stuck in the Suez Canal and blocking traffic in one of the world’s most important maritime trade chokepoints isn’t set to break free just yet.  

The Ever Given, a 220,000-ton mega ship nearly a quarter-mile long with a 20,000 container capacity, ran aground after being blown by strong winds while entering Egypt’s Suez Canal from the Red Sea. It’s completely blocked the passageway that is home to as much as 12% of the world’s seaborne trade and through which 50 container ships normally transit per day.   

Tugboats and dredgers are currently working to dislodge the ship, which has been stuck since Tuesday evening. But the operation could take weeks, one of the…



Source cnbc.com

Suez Canal blockage is delaying an estimated $400 million an hour in goods

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