Suez Canal and Ever Given Ship

Recently, the Suez Canal, one of the world’s most critical transit routes, got blocked due to a large container vessel, the MV Ever Given. This has caused enormous disruption to global shipping.

• This temporary closure has been very expensive for global trade, as it is estimated that the loss per hour is almost $400 million. The negative impact on the intricate and delicately balanced global supply-chain and oil prices will impose additional costs on the customer globally.

About Suez Canal

• The modern Suez Canal was built in the mid-19th century through efforts by the French and opened for navigation on November ....