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Market Watch Weekly | March 26, 2021 | Suez Crisis, Part Deux.

Erik Dekker - Mar 26, 2021
And just when you thought that world events couldn’t get stranger, we have a 200,000-ton container ship the size of the Empire State building shuttering 10% of global trade. The reason? Not a political or military crisis, not a trade embargo...

And just when you thought that world events couldn’t get stranger, we have a 200,000-ton container ship the size of the Empire State building shuttering 10% of global trade. The reason? Not a political or military crisis, not a trade embargo, not a striking labour force, no. It was a gust of wind… A gust of wind has blocked $9.6 billion a day worth of global trade. Last year nearly 19,000 ships passed through the canal, which is an average of 51.5 each day. The ship that launched a thousand memes has left 185 vessels waiting to cross the canal.

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