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March 25, 2021

Suez Canal blockage could drive in huge trade disruption

Suez Canal blockage could drive in huge trade disruption
A giant container ship has become wedged across Egypt's Suez Canal, blocking one of the world's busiest trade routes.    Dozens of vessels are stuck, waiting for rescue boats to free the 400m-long (1,312ft) ship, which was knocked off course by strong winds.    Egypt has reopened the canal's older channel to divert some traffic until the grounded ship can move again.    The blockage sent oil prices climbing on international markets.    About 12% of global trade, including wood products, passes through ...

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