Blockage of the sweat channel: a blow to international trade

The suez canal sees more than 50 oil tankers and container ships pass every day. This channel constitutes a strategic crossing point for goods coming from all over the world. Recently a sinking ship caused the obstruction of the canal. What are the impacts of blocking the canal?

The strategic role of the suez canal

Created in 1867, the Suez Canal is a major passage for international maritime trade. Almost 193 km long, it is a link and a shortcut between Europe and Asia. The canal thus allows the ships which circulate there to make 6000 km less to connect the two continents. This represents a saving of 800 tonnes of fuel and a considerable saving of time. The sinking of the canal by a Taiwanese ship on March 26, 2021 prevented more than 20 ships from circulating. This blockage is the basis of a colossal loss in the world trade sector.

Losses related to the momentary obstruction of the sweat duct

The equivalent of US $ 9 billion passes through the suez canal every day. Several ships carrying goods pass through it almost every day. The more time this vessel spends on this channel, the greater the losses will be. Investigations are already underway to determine the responsibilities in the face of this tragedy. Whoever is found guilty of this incident, the damages awaiting him are likely to be colossal. However, world trade has slowed down as a result of this incident. However, a little over three days after this incident, the vessel blocking the passage was straightened in order to unblock the passage. This is therefore excellent news for the first players in maritime trade.