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Thursday, May 2, 2024

The cost of one stuck ship in the Suez Canal – rising costs of fuel, household goods, food

That container ship is still stuck in the Suez Canal. It’s created a huge traffic jam at either end – some 240 ships. Even if they clear the blockage (get the ship out of the way to let other ships pass) soon, it’s predicted to take most of April to clear the backlog. The cost to world shipping has been estimated at 9-10 billion US$ each and every day.

The Ever Given is 400 metres long, about as long as the Empire State Building is high, and weighs 200,000 tonnes. The ship ran aground, stuck sideways in the Canal, last Tuesday with high winds and a sandstorm affecting navigation.

Not going to affect you? Think again.

The Ever Given has become Very Stuck and is delaying the shipment of goods from Asia to Europe and North America, and back the other way, through the world’s busiest shipping channel, handling some 12% of the world’s shipping traffic. Despite the…

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