Big ships were created to avoid relying on the Suez Canal. Ironically, a big ship blocked it.

The 2021 blockage is another reminder of the fragility and lack of accountability in global shipping.

On the morning of March 23, a gargantuan , heading north to the Mediterranean,  in the Suez Canal. The weather was blustery, with sandy gusts blowing across the canal. A strong gust and the  pushed the merchant vessel Ever Given into the east bank of the canal.

It was immediately clear that the bulbous nose at the prow of the ship had lodged in the canal鈥檚 bank, and the 1,300-foot body of the ship lay diagonally across the waterway, blocking traffic. Ironically, as  explains, the most dramatic leaps in ship sizes were precipitated by  in the 1950s and 1960s. Decades later, it鈥檚 the vast size of the ship that makes refloating it so difficult.

By Friday,  were anchored in the Mediterranean and the Red seas.  appeared confident the canal could reopen within days, while  cautioned that freeing the stuck ship might take weeks.  jumped up by a few dollars on Wednesday; and  on freight delays have begun to trickle in.

Read More »