Recently we've all come across a piece of news where an Eiffel Tower-Length ship got stuck in one of the most vital shipping routes and the busiest waterways “The Suez Canal”. There have been five closures in Suez Canal since its opening, one of which forced the route to shut down for years.
In our lives, at some point, we've all got trapped. Whether in a sticky situation, making tough decisions, or, like the gigantic stuck ship that slowed world commerce for days.
The Panamanian-flagged Ever-Given got parked against the canal's width since 30th march Tuesday. This created a huge traffic jam on one of the world's most important shipping routes. The giant container vessel, which was approximately 200 feet wide and 1,300 feet long, quickly filled the canal. According to Lloyd's List, the crisis is costing $400 million per hour in delayed items.
The Suez Canal is an Egyptian waterway that links Europe and Asia, facilitating about 12% of world commerce. It provides vessels with paths between the North Atlantic and north Indian oceans through the Mediterranean and the Red Sea. It also skips the South Atlantic and Southern Indian oceans but cutting the travel time from the Arabian Sea to London by around 8,900 km (5,500 miles).
Supply-chain analysts are now predicting that shoppers will potentially face a lack of goods in supermarkets. Since the cargo ship has been stuck in a position for days which prevented hundreds of many other ships from completing their journey.
Authorities claim 369 ships were already stranded and waiting for the canal to reopen.
As per a report released on Friday by German insurer Allianz, every day of the blockade could cost world trade $400 million worth of trade per hour or $6.7 million per minute.
Social media Impact
The vessel blockage caused a full-fledged internet moment and bombarded social media with dozens of jokes. These were good-natured jokes based on the traffic condition caused in the key waterway. Since the ship got stranded, Twitter, Facebook, and Instagram have been filled with memes, all sorts of jokes, and reactions. The marketing teams of different companies took to the internet with the funniest one-liners and promoted their brands. Today will be no exception. Suez Canal quickly rose to the top of the social media website's trending topics after the ship began to sail.
And it re-opens...
The massive cargo vessel has been released and the Suez Canal has reopened. Although traffic has since resumed across the critical waterway, experts caution that the week-long maritime snarl may have long-term implications. It has placed further pressure on supply chains already weakened by the coronavirus pandemic has halted $9 billion in daily world trade. During the Ever Given saga, more than 400 boats stacked up on either end of the canal, holding everything from crude oil to livestock. The canal authority expects 140 of them to travel through the waterway on Tuesday after 113 did so overnight.
This blog is created by Learneca students: Ritika Gupta and Vanshika Dubey as a part of Learneca Campaign Immersion capstone project. Entries to the Learneca Masterclass are free but by selection only. To know more about Learneca digital marketing masterclass, you can go to www.learneca.com.