{"id":211222,"date":"2021-03-25T20:45:35","date_gmt":"2021-03-25T17:45:35","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/suez-canal-logjam-could-stretch-on-for-weeks-slam-world-economy\/"},"modified":"2021-03-25T20:45:35","modified_gmt":"2021-03-25T17:45:35","slug":"suez-canal-logjam-could-stretch-on-for-weeks-slam-world-economy","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/suez-canal-logjam-could-stretch-on-for-weeks-slam-world-economy\/","title":{"rendered":"#Suez Canal logjam could stretch on for weeks, slam world economy"},"content":{"rendered":"

“#Suez Canal logjam could stretch on for weeks, slam world economy<\/strong>”<\/p>\n

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The growing traffic snarl in the Suez Canal could take weeks to untangle \u2014 and is threatening to wreak havoc on the world economy in the process.<\/p>\n

The giant cargo ship that\u2019s wedged across the canal is blocking an estimated $9.5 billion worth of shipments daily. The crisis \u2014 now in its third day \u2014 could stretch on for weeks, taking a devastating toll on global commerce as it traps shipments of everything from oil to electronics.<\/p>\n

At least 150 ships are now stuck behind the Ever Given, a 200,000-ton cargo vessel that ran aground in the narrow channel on Tuesday. International crude prices surged 6 percent the following day \u2014 a move some analysts blamed on worries about oil shipments coming out of the Suez.<\/p>\n

Meanwhile, logistics experts said the blockage would likely spur delays and added costs as deliveries of crucial goods between Europe and Asia, as deliveries of heavy equipment, clothing and even crucial medical supplies continue to get further backed up.<\/p>\n

\u201cWe can\u2019t exclude it might take weeks, depending on the situation,\u201d said Peter Berdowski, CEO of Boskalis, told media<\/a> on Thursday. \u201cIt\u2019s an enormous weight on the sand. We might have to work with a combination of reducing the weight by removing containers, oil and water from the ship, tug boats and dredging of sand.\u201d<\/p>\n

Built over a decade in opened in 1869, the Suez Canal is an artificial waterway in Egypt that connects the Red Sea to the Mediterranean. Nearly 19,000 vessels passed through it last year carrying 1.2 billion tons of cargo, according to the Suez Canal Authority, the Egyptian state institution that operates the channel. <\/p>\n

\"This
This handout satellite image shows the Taiwan-owned MV \u2018Ever Given\u2019 (Evergreen) container ship, a 400-meter- (1,300-foot-)long and 59-meter wide vessel, lodged sideways and impeding all traffic across the waterway of Egypt\u2019s Suez Canal.<\/figcaption>
CNES\/AFP via Getty Images<\/span><\/figcaption><\/figure>\n

The Ever Given \u2014 a 440 million-pound cargo ship that\u2019s as long as the Empire State Building is tall \u2014 was en route from Rotterdam to China when it ran aground Tuesday after high winds turned it sideways, according to shipping data. <\/p>\n

The bow of the ship is still lodged deep into one side of the canal, and dredging will be required, the Wall Street Journal reported on Thursday. Workers also will need to take off fuel, ballast water and possibly some of the ship\u2019s cargo. That could require the help of helicopters Officials are hoping a higher-than-normal tide expected over the weekend could help lift the ship free.<\/p>\n

The stranded vessel is blocking a route that carries about 13 percent of the world\u2019s trade. On Thursday, the ship\u2019s owner apologized for the mess.<\/p>\n

\u201cWe are determined to keep on working hard to resolve this situation as soon as possible,\u201d Shoei Kisen Kaisha\u00a0said in a statement<\/a>\u00a0Thursday. \u201cWe would like to apologize to all parties affected by this incident, including the ships travel<\/a>ing and planning to travel through Suez Canal.\u201d<\/p>\n

\"The
The 400-meter, 224,000-ton Ever Given container ship, leased by Taiwan\u2019s Evergreen Marine Corp, blocks Egypt\u2019s Suez Canal in a BlackSky satellite image.<\/figcaption>
via REUTERS<\/span><\/figcaption><\/figure>\n

If the logjam can\u2019t be undone, experts say cargo companies will be forced to reroute their shipments around the Cape of Good Hope at the bottom of Africa \u2014 a detour that typically adds 14 days and 5,000 nautical miles to the commute.<\/p>\n

That could send prices for vital goods including cars, lumber and even critical medical supplies soaring in the coming weeks and months, officials said.\n <\/p><\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Suez Canal logjam could stretch on for weeks, slam world economy” The growing traffic snarl in the Suez Canal could take weeks to untangle \u2014 and is threatening to wreak havoc on the world economy in the process. The giant cargo ship that\u2019s wedged across the canal is blocking an estimated $9.5 billion worth of…<\/p>\n","protected":false},"author":1,"featured_media":211223,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/03\/suez-canal-blockage-03.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[99246,70748,88397,81850,72188],"class_list":["post-211222","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-3-25-21","tag-egypt","tag-global-economy","tag-shipping","tag-trade"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/211222","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=211222"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/211222\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/211223"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=211222"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=211222"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=211222"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}