The effect of the delay in the Suez Canal on sea transport

It's been more than three days that an EVERGREEN ship with a length of four football fields standing along the Suez Canal in Egypt has blocked the traffic in the canal, and this delay has a significant impact on the world economy. The most important part of the cargo between Asia and Europe is transported through this canal and the current delay is affecting billions of dollars worth of cargo. According to the latest information, more than 300 ships are currently waiting for the opening of the channel.

Despite the efforts made so far, it has not been possible to set the ship in motion. Satellite images taken by Planet Labs Inc. on Thursday and analyzed by the Associated Press show the ship still in the same location. According to experts, this process may take 2-3 weeks.

Since the Suez Canal is a major shipping route that facilitates and speeds up global shipments from Asia to America, Needless to say, the crisis has stopped many shipments. It is reported that currently the supply of cargo and oil products worth more than $ 10 billion has been suspended. This event is also expected to increase oil prices soon.

Against the background of these events, the newly commissioned Baku-Tbilisi-Kars project is once again showing its importance. Currently, this route is one of the most ideal alternatives after the North Sea Route (NSR).

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