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The Suez Canal Blockage in March 2021: The Causation of the Incident and Its Economic and Social Influences
- 1 GuanghuaQidi
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Abstract
As one of the most traveled areas for shipping transport, the incident heavily disrupted global commerce for a week, and it is worth discussing and researching the 2021 Suez Canal blockage to pinpoint the exact scale of the economic influences over the events. This essay will examine the case of a blockage event in the Suez Canal caused by the ship Ever Given. The introduction of the Suez Canal will be covered, including its historical background and some related simplified Egyptian History. The case is elaborated in detail, covered by the containership and the canal information, the date, and the situation during the time. Then, the essay will go over the reasons for the collision and the way the event changed the supply chain and global economy, explaining the importance of the Suez Canal and the change in the transporting routes, disruption in the supply chain, local economic impact, disruption in the market price of commodities and resources. Besides the analysis, there are suggestions to avoid the incident and the method to reduce or minimize the impact the incident can convey.
Keywords
Suez Canal, Ancient Egypt, Maritime Transportation, Supply Chain, Inflation
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Cite this article
Yang,Z. (2024). The Suez Canal Blockage in March 2021: The Causation of the Incident and Its Economic and Social Influences. Advances in Economics, Management and Political Sciences,60,185-192.
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