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Suez Canal Remains Blocked for Third Day as Elite Team Tackles Stuck Ship
Posted
March 25, 2021
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5:24Now PlayingA container ship longer than the Eiffel Tower ran aground in the Suez Canal in Egypt on Tuesday morning, blocking one of the world’s busiest maritime trade routes that’s vital for the movement of everything from oil to gas to consumer goods.
Teams of tug boats and excavators are trying to free the 224,000-ton boat, which got stuck during a dust storm that challenged navigation and visibility.
The incident is a reminder of how much international trade is channeled through so-called chokepoints — geographically constrained waterways that include the Strait of Hormuz and the Panama Canal. Dozens of vessels are already gridlocked at Suez and a lengthy halt could further stretch supply chains that have already been disrupted by the coronavirus pandemic.
“The Suez Canal blockage comes at a particularly unhelpful time,” said Greg Knowler, European editor at JOC Group, which is part of IHS Markit Ltd. “Even a two-day delay would further add to the supply chain disruption, slowing the delivery of cargo to businesses across the U.K. and Europe.”
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