Egypt’s Suez-Canal is the most important route from Asia and middle east to Europe, comprising of 12% of the entire global trade. The blockage of this channel for six days halted maritime container shipping resulting in delays all over. This single mishap has added millions of dollars to the shipping industry’s costs, and yet this doesn’t imply the end of it as experts predict the impact to roll over for many more months to come- adding to the already stretched supply chain lines, supply snags and surge in demand. Container trade disruption has caused many assembly lines to close down. All of this also points towards a major increase in cost resources in both money and time that ultimately will be borne by the consumers of the global world.
Major ports in mainland China have restricted operations due to heavy upturn in new covid cases in the region. One such port, Yantian, known to be a bustling busy port has reportedly faced a disruption in its activities which experts say could lead to even more delays. Diverting some of the traffic to neighbouring ports like Shekou is not very feasible as the condition remains homogenous everywhere. The congested ports and long lines of ships carrying tonnes of containers make up the entire scene at Yantian.The fragility and pressure points of our supply chain become glaringly obvious when conditions get tough. All of us have experienced the severity of this situation at one point or another, and this is not to be let up for at least a few more months.
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