Now removed from the Suez Canal¡¯s main channel, the Ever Given leaves in its wake several weeks or perhaps months of disruptions across a world economy that has seen both the sturdy backbone of global trade and an Achilles¡¯ heel revealed by the pandemic.
¡°It¡¯s not a cork-out-of-a-bottle moment,¡± said Peter Aylott, director of policy at the U.K. Chamber of Shipping. ¡°We could still be days away from the canal being completely free.¡±
The reopening kicks off a new wave of stress on supply chains ¡ª the intertwined network of ships, ports, trucks, trains and warehouses that shuttle products from a factory on one side of the planet to a retail shelf or production line on the other. A surge in e-commerce means even greater consumer demand for speed, putting added strain on transportation and boosting freight rates to record highs.
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