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Thursday, March 25, 2021

A Supply Chain Disaster

 

EGYPT

Calling Little Toot

A large cargo container ship became grounded in the middle of Egypt’s Suez Canal this week, effectively disrupting one of the world’s most important shipping routes, CBS News reported Wednesday.

The Panama-flagged MV Ever Given, one of the largest ships in the world, turned sideways on Tuesday, with Egyptian officials and shipping companies blaming “a blackout” and strong winds for the incident.

Satellite images showed the ship’s bow touching the canal’s eastern wall, while its stern seemed lodged against the western wall. On Wednesday, Egyptian authorities sent tugboats to assist in moving the ship but said the operation could take at least two days.

Meanwhile, about 100 vessels at both the southern and northern entrance of the canal have been stuck.

Opened in 1869, the Suez Canal provides an important link for oil, natural gas and other cargo being shipped from Asia to Europe and beyond. Around 10 percent of the world’s trade flows through the waterway and it remains one of Egypt’s top foreign currency earners.

Analysts said the incident is the latest to affect mariners amid the pandemic: Many sailors have been stuck aboard vessels due to restrictions imposed by countries to contain the virus even as shipping demands have increased in recent months.

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