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IPFS News Link • Egypt

Even Though the Suez Canal Is Reopened, It Could STILL Cause Catastrophic Supply Chain Damage

• Organic Prepper - Robert Wheeler

As of right now, the Suez Canal blockage seems only to be a human interest story. Some readers watching the story of the grounded sky-scraper-sized Ever Given container ship may find it comical and curious. Surely you've seen the many memes circling the internet?

Only a few understand the ramifications if the vessel isn't dug out and freed very soon. But the Suez Canal blockage could very well become an issue at the checkout counter.

UPDATE: The canal has reopened at 10 this morning after being blocked for nearly a week. Hundreds of vessels remain backed up and passage will hopefully resume later today. Due to the massive delays and just-in-time shipping, the facts of the article remain pertinent.

Lloyd's List has estimated the wait is costing about $9.6 billion per day

Before the Ever Given ship was grounded, approximately 50 vessels a day sailed through the narrow Suez Canal, which amounts to roughly 10% of global trade. These vessels carried everything from electronics to chemicals, ore, petroleum, and food.