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The Suez Canal Stuck Container Ship Could Soon Be Free

Indonesian News | UK Business Directory
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New Effort To Float Suez Canal Stuck Container Ship

 

As reported on the BBC News Website, a fresh effort to move the stuck container ship in the Suez Canal could occur as early as Saturday.

Contingency plans exist for 14 tugboats to arrive on Sunday to assist, if Saturday’s attempt fails.

\Clearly, the container ship is logistically very difficult to move, when you consider that it is 400 metres long, and 200,000 tonnes. 

Why Is The Suez Canal Important?

 

Since the Suez Canal is so far from the UK, why is it important? Well, according to the Guardian, the Suez Canal is responsible for 12% of Global Trade,

$1 Trillion Dollars of trade pass through the passageway each year, including 50 ships per day totalling between $3-9 Billion dollars of cargo!

Logistically, passing through the Suez Canal shaves thousands of miles, and vast amounts of time off of the journey to the UK, which reduces the logistics pricing on products.

 

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What Happens If It Doesn’t Work?

 

Firstly, this situation is not one that can allow to go unresolved..and it is almost certain to succeed.

However, the more likely outcome is that there could be a delay in clearing the Suez Canal from the container ship. This could lead to product shortages, pricing on products that are available, and, employment that relies on handling of imports and their logistics.

Whilst 12% of Global Trade is not the ‘lionshare’ of all trade, Global trade is a finely balanced machine that can often suffer exponential issues when even one cog is not working fluently.

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Indonesian News | UK Business Directory

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