Transport Topics (March 25, 2021)
A giant containership has blocked up the Suez Canal this week, halting movement in one of the busiest trade routes in the world. The containership, which is longer than the Eiffel Tower is tall, ran aground in the southern part of the canal in Egypt. The mistake has gridlocked dozens of vessels as they attempt to transit between the Red Sea and Mediterranean. About 12% of global trade and 8% of liquefied natural gas pass through the Suez Canal, as do around 1 million barrels of oil each day.
