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what consequences for world trade?


Video length: 2 min.

France 3

Article written by

J. Bigard, MP.Degorge, N. Dreujou, C. Gindre

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France 3

France Televisions

A 400-meter-long container got in the way of the Suez Canal (Egypt), and the economic consequences are very important. It may take weeks for traffic to return to normal.

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A freighter has been stuck in the Suez Canal (Egypt) for three days now. It contains 20,000 containers, and is 400 meters long, the equivalent of four football fields. Behind him, the waiting boats are piling up. By blocking the Suez Canal, it clogs a maritime artery which concentrates 10% of world traffic. In total, more than a hundred boats are already stranded, the equivalent of nine billion euros in goods.

Experts expect deliveries from Asia to be delayed in many sectors. “There may be shortages, warns Christian Bouchet, lecturer, geopoliticologist and director of the Center d’études de la mer at the Catholic Institute of Paris. Earlier, I had a large textile importer who confessed to me [qu’on lui a fait] share that this delay could generate, perhaps, a lag of a month on what he expected next week.“The concern is also about oil. Part of the production, especially from the Middle East, passes through the Suez Canal. The price of a barrel has already increased by 5%. According to several experts, the unblocking of the Canal could take several days, even several weeks.

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