Reference no: EM133614218

Question 

In March of 2021, the Ever Given, a massive container shipping vessel ran aground in the Suez Canal resulting in the ship blocking the canal almost completely. For background, "approximately 12% of global trade passes through the Suez Canal, representing 30% of all container traffic.", (New Zealand Ministry of Trade). When you think strategically, it is hard to understand why so much weight is put on such a volatile and high-risk passageway, but when weighing the alternative options there is no other clear path to accomplish what can be done via the Suez Canal in that region of the world. With the Ever Given stuck, it froze up nearly $10 billion in trade each day that the canal was blocked, and creating a stir on the internet. This case serves as a prime example of a worst-case scenario that arose from an unexpected yet growing problem. As globalization continues, and increases in efficiency is expected, this style of and many other styles of shipping or container vessels are growing as well, while shipping and support infrastructure lag behind. The Suez Canal, Panama Canal, and aging ports around the world are prime examples of this.