Suez Canal Blockage Egypt: A large cargo ship is also stranded in Egypt’s Suez Canal Ever Given Stuck for the fifth consecutive day. All attempts to remove it seem to fail. If it is not removed in the next one to two days, it will cause huge damage to the economy of the world (Suez Canal Blockage). India will also not remain untouched by this loss. This is because about 12 percent of the world’s business is made by this route of the Suez Canal. Therefore, it is also considered to be the backbone of global trade. Not only Egypt but countries around the world are troubled by this crisis.
The route of the Suez Canal connects the Mediterranean Sea to the Red Sea (Suez Canal Connects), a small sea link between Asia and Europe. The Egyptian government has said many times that this route will be enlarged, but even then it has not been worked on. Now many other ships are also not able to carry and carry goods due to the stranding of a large ship (Suez Canal Blocked). This canal crosses the Strait Isthmus. It is about 193 km long (Suez Canal Evergreen Ship). This crisis may disrupt the manufacturing supply, which is expected to increase the shipping rate.
The ship is 400 meters long
This huge ship, called the Ever Given, is 400 meters long. It is jammed on both sides due to its stranding. Hundreds of other ships and oil containers carrying goods are stranded (Suez Canal Blocked Update). If the problem is not resolved soon, the oil, textiles, furniture, cotton, machine parts and auto components being shipped from India to Europe, North America and South American will be delayed by ten to 15 days. On the other hand, goods coming to India such as steel goods, parts of machines and basic chemicals like aniline will be delayed in reaching the consignment.
Freight may increase
The import and export encounters due to stranding of the ship are not able to reach on time (Suez Canal Country). The import-export automation platform Shipsy says freight can increase by 5 to 15 per cent due to stranding of the ship (Suez Canal Evergreen Ship). India trades up to $ 200 billion annually with Europe, North America and South America via the Suez Canal. This giant ship was trapped on Tuesday, after which 160 other ships were also trapped. About 50 ships pass through this route daily.
An important way of movement
This route is the most important route for the movement of oil and other everyday goods between Asia and Europe. If it is not removed soon, the ships will have to go through another route of the Cape of Good Hope. In which traveling for more than eight days, it will be a tree, as well as 500-800 tons more fuel will also be consumed in this journey (Suez Canal Evergreen Ship). In a media report quoting Ajah Sahai, Director General and CEO of the Federation of Indian Export Organizations, it may take 7 to 10 days to remove this blockage but it will take two weeks for the situation to return to normal. In such a situation, the export of engineering-related goods to Europe can be expensive.
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