A cargo ship stuck in a canal in Egypt is costing companies billions of dollars daily. The repercussions of the blockage will have ripple effects for months to come as over 200 other ships are not able to take the shorter route for getting cargo to destinations.
The Ever Given, a skyscraper sized ship, owned by Taiwanese based shipping company Evergreen Marine Corp. spokesperson said the ship got stuck after heavy winds forced the ship in a precarious position making it unable to move. The alternate route the Horn of Africa past Somalia and, eventually, past West Africa and the Gulf of Guinea – where piracy rates are the highest in the world, adds two weeks to delivery time and will skyrocket fuel costs.
Ships that take the alternate route will have to bump up security in order to get their cargo safely delivered as that area is probably the most dangerous area in the world. The United States said it was ready to assist in dislodging the huge cargo ship if requested. “We have offered and stand ready to assist Egypt, and will look to support any specific request we receive”, said Navy Captain Bill Urban, the spokesman for the US Central Command, which operates across the Middle East. Ships that are stranded behind the Ever Given are carrying cargo ranging from oil to consumer goods.