Since the morning of Tuesday (23), an apparently trivial incident may be jeopardizing the functioning of much of the world trade: after the container ship Ever Given ran aground for a technical failure and blocked the passage of the waterway. Suez, in Egypt, stopped the flow of 12% of shipments to consumers worldwide, with unpredictable consequences.
As all attempts to move the meganavio have so far failed, it continues to block the passage of about 50 ships that travel there daily. The American NBC News interviewed on Thursday (25) several logistics experts who expressed the fear that the impasse could have a ripple effect on industries around the world.
The extent of this damage will, of course, depend on the speed with which the ship is moved out of the way. Danish expert Lars Jensen told the broadcaster that “basically, everything you see in stores” could be affected. This means from food, furniture and clothing to items such as electronic components, fitness equipment and vehicle parts.
Oil and Processors
Speaking to NBC specifically about fuels, David Fyfe, chief economist at market research firm Argus Media, pointed out that the volume of crude oil, refined oil and liquefied gas that passes through the channel represents between 5 and 10% of all global shipments .
Finally, the situation of the Suez Canal cargo ship may also impact the electronics industry, which is already affected by a shortage of parts for processors. Although some Western companies are making their own chips, the lack of components could delay smartphone production.
The Vessel Finder, a popular ship tracking application, shows that Ever Given has no speed at the moment. However, the meganavio is slowly being pushed closer to one of the banks of the channel. It is possible that soon it can be pulled into a position that allows the resumption of maritime traffic.