Suez Canal Blockage Will Have Unexpected Consequences

In a race against time, the cargo ship crisis that almost became a major global disaster, ended in victory this week. The Ever Given, the cargo ship at the center of this dilemma, was stuck at a crucial place in the Suez Canal that resulted in hundreds of ships unable to deliver their goods to Europe and Asia. But this victory still comes at a price; shipping analysts are projecting the traffic jam was holding up close to 10 billion in trade every day. Transporeon’s CEO Stephan Sieber spoke to Bloomberg about why this has been critical and what to expect now that the ship has been freed.



Sieber says, “I mean, it all goes back to the pandemic, which in essence means that many services have been cut down or less traveled is less gastronomy. People are not leaving homes anymore. And as a consequence, the consumption of goods at home is just increasing. And this leads to an increase in demand, mainly from goods from China and that sort of the whole situation out of its equilibrium, equilibrium. And I think as we approach summer. And as hopefully, you know, the pandemic will slowly but surely come to an end, you know, we do expect that a few months afterwards, the whole system will relax again.”

The shutdown has been affecting close to 15 percent of the world’s container shipping capacity according to Moody’s Investor Service, meaning more delays at ports around the world. Thankfully, so far, the impact has been small despite the major interruption, which can only be described as a terrible “oar-deal”.

*Bloomberg contributed to this content

Follow us on social media for the latest updates in B2B!

Twitter – @MarketScale
Facebook –
LinkedIn –

Follow us on social media for the latest updates in B2B!


“The Employee is My First Customer.” Strategies for Restaurant Success from Legacy Restaurateur
November 29, 2021
  Author, restaurant owner and hospitality industry expert Barry Jessurun discussed his book, life lessons, and tips for restaurant success with Host Barbara Castiglia on The Main Course. As Read more
As Export Values Rise, American Farmers Face a Trade Crisis
As Export Values Rise, American Farmers Face a Trade Crisis
November 26, 2021
Key Points: U.S. agricultural exports are being hampered by transportation issues, leading to a loss in sales potentially as high as 22%. In 2021 from January through July, the dairy industry Read more
Cyber Monday Will Be the Big Test for Retailers' Ecommerce Strategies
Cyber Monday Will Be the Big Test for Retailers’ Ecommerce Strategies
November 26, 2021
  The holiday shopping season gets its first big test this weekend with Black Friday deals and the welcomed-by-retailers resurgence of in-store shopping and deals. Even if consumers are looking to Read more