You know, the entire globe was already having absolutely insane shipping hold ups.
The Suez canal is now blocked by a grounded freighter and it could be many days/possibly weeks before it is cleared per current reports.
This is a very big deal and will have massive implications.
I think you’re overreacting. It may cause a temporary blip in some supply chains, but, there are alternatives to using the canal if need be. I would think that the European supply chain would be more affected than the NA market.
I did read this morning that the container liner has already been partially re-floated and shouldn’t be ‘stuck’ for too much longer. M2c.
PS. The Suez and Panamanian Canals are absolutely crazy feats of engineering.
It’s the end of the world and we know it… but I feeeeeeeel fiiiiiinnnnnnneeeeeeee!
Travelled through it personally, multiple times. It’s a sight to behold.
Even a small hiccup causes incredible domino effect issues.
The alternatives are not nearly as efficient, and create other logistical problems.
No, I’m not calling this “the sky is falling”…but it will impact gas prices, and it will impact timeliness of cargo arrivals/transport. There is simply no other outcome.
If things were already running smoothly it wouldn’t be quite as big of a deal, but with the established shipping delays and issues the world is already dealing with…uggg.
Louis DeJoy… the Suez Canal. What the heck is next!!!
I bet DeJoy caused this… it’s all part of his master plan of world domination…
The ship also used its transponder to draw one hell of a weiner.
Shot I took as a youngster.
That’s the USS Nassau amphibious assault carrier ahead of us (I was on the LPD-1 cruiser USS Raleigh)
I think this reference is most relevant to people of a certain age. I used to watch the video on MTV and then grab my skateboard, etc.
Single point failure. Never a good thing.
They ought to hire Austin Powers to get that thing unstuck; looks like it’s right in his wheelhouse.
They should build a bigger canal… make it go right across Africa…
Keep in mind any impacts from this largely won’t be felt for a few weeks. So don’t be surprised if in a month a bunch of things that SHOULD have been available or coming soon suddenly are delayed.
Yes, its not one of those things where we see an immediate impact, so people won’t freak out. However, in a few weeks when tens of thousands of containers, which were supposed to resupply stores and bring your favorite Amazon / Walmart / Target products to those people, then you will start seeing the, “OMG WHYYYYYY” posts from angry consumers… not to mention they will be paying higher prices due to the extra time / fuel / money in takes to sail around.
What we call ‘waiting time’ on these vessels are upwards of $25,000 per day…depending on the cargo type and size of vessel. This will surely get passed from the line >> forwarder >> shipper >> terminal operators >> truck drivers >> warehouse >> last mile >> store >> YOU! yay!
No its not end of days
Gas and crude oil prices can skyrocket all the want… I’m still in lockdown and drive literally no where… i’ve only had to fill up my gas tank like 5 times since last March
I hate April Fools’ Day but that is funny.