Suez Canal blockage: Things which will get costlier as The Ever Given remains stuck
The Suez Canal blockage will likely result into shortage of crucial supplies. Things we easily get in a department store, will become hard to come by.
New Delhi: As the giant cargo ship The Ever Given remains stuck in the Suez Canal, blocking the passage for several shipments, its repercussions are soon going to be felt by people across the world.
The canal is one of the busiest waterways facilitating about 12 per cent of the global trade. The blockage has caused delays in shipment of a wide range of products that people use in their day to day lives.
Hundreds of cargo ships remain stranded waiting for the passage to be cleared. Several ships have taken alternative routes, which could add up to 15,000 miles or about two weeks of extra journey.
The crisis will likely result into shortage of crucial supplies. Things we easily get in a department store, will become hard to come by.
Here are some of the items that would likely get costlier soon:
Loss of $400 million an hour
Fuel
As if the soaring prices of petrol and diesel wasn’t bad enough, the Suez Canal blockage could make things even worse. The fuel prices could skyrocket in times to come, if the supply chain is not restored soon enough. The canal reportedly accounts for about 5 to 10 per cent of global shipments of crude oil and liquefied natural gas.
Furniture
Coffee
