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 ....
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