The Suez Canal : The Supply Chain Breakdowns & Inventory Shortages

An enormous cargo ship is currently blocking 10% of the world’s trade in the Suez Canal.
The 400 meter-long and 59 meters wide Ever Given container ship ran aground early on March 23rd as it traveled north from the Red Sea towards the Mediterranean, twisting diagonally across the width of the canal.
As a consequence, the traffic on the crucial waterway linking the Mediterranean and the Red Sea has been at a standstill for two days after the MV Ever Given ran aground in high winds.
And at least 250 other vessels needing to pass through the crucial waterway are sitting idle. Efforts to refloat the ship have failed so far, and the waterway could remain blocked for weeks.
This will have a major knock-on effect on global shipping and trade.