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The possible consequences of blocking the Suez Canal

The Suez Canal is one of the most frequented waterways, which transports up to 10% of all global goods. Therefore, it plays a massive role in the global economy, making the current situation especially unfavourable. Daily, as many as 50 – 60 ships pass through the canal. That’s why the long-lasting exclusion of the channel from use would bring adverse economic consequences. Some vessels would have to re-route their courses, which also means the necessity to cover additional costs. New ships awaiting the waterway opening keep gathering on both the Red Sea and the Mediterranean Sea, which the Suez Canal connects. In our previous article, you can check how many days it usually takes for a ship to sail from China to Europe.

For the past six days, the special services have been working on unblocking one of the most crucial waterways in the world. Ever Given’s remaining stuck for so long, prevented the supply of industrial goods, food, and fuel between Europe and the Far East. What’s more, over 300 ships transporting various types of cargo are waiting for completion of the works.

Unblocking the Suez Canal

According to information provided by the shipping agency Inchcape Shipping, on 29^th of March, Monday, the container’s ship unfortunate position was finally changed. Ever Given was pulled from the shoal and re-floated at around 4.30 am local time. However, a spokesman for the vessel owner’s company said it cannot resume its sail just yet. He also mentioned that the ship is now angled at 30 degrees, which allows for a greater range of motion. It has already started its engines but will still have to undergo preliminary inspections before departure. Although the situation has changed, it’s still uncertain when the Suez Canal will be opened to the waiting ships.

Source: Shiphub