InvestorQ : Has the Suez Canal blockade been cleared?
Arusha Ray made post

Has the Suez Canal blockade been cleared?

1 year ago

It has been officially confirmed by the Suez Canal Authority of Egypt that the Canal has finally been cleared and the activities are back to normal. It is now almost a week after the stranded “Ever Given” was dredged and tugged away. As of now, all 422 ships stranded have fully traversed the canal by Saturday with 61 passing on the last day.

Suez Canal is a major connecting link for trade flows between the Middle East and Europe and also parts of the US. While the canal has been cleared, the lag effect of the stranded ships is likely to impact global supply chains over the next few months. The impact on world trade is expected to last for the next 4-5 months.