The International Trade Council is pleased to report the clearance of all remaining vessels stranded as a result of the Ever Given grounding incident in the Suez Canal.
The Suez Canal Authority has confirmed that the last of the 61 ships caught in the aftermath of the grounding were able to pass the canal on both sides on Saturday, along with 24 new ships. In total, 422 ships carrying 26 million tonnes of cargo were stranded, causing a significant global trade backlog.
The Panama-flagged container vessel, Ever Given, which is equivalent to the size of a skyscraper, was fully refloated on Monday after a week-long blockage. This incident temporarily halted an estimated €7.6 billion worth of daily global trade and forced some vessels to reroute around the Cape of Good Hope, incurring significant fuel costs and time delays.
The rapid recovery of operations in the Suez Canal is a testament to the efforts of all involved in the dislodging and subsequent clearance procedures. This major global shipping artery, which saw nearly 19,000 ships passing through in 2020 (an average of 51.5 ships per day), is now fully operational and accommodating new traffic.
While the Ever Given incident did raise concerns about potential prolonged delays, goods shortages, and increased consumer costs, the International Trade Council believes that the successful navigation of this crisis showcases the resilience of international trade.
We continue to work closely with international trade entities to ensure the smooth flow of goods worldwide and maintain the integrity of global supply chains.