Suez Canal Blockage-Time to Rethink Global Supply Chain
| Case Code: OPER155 Case Length: 13 Pages Period: 2021 Pub Date: 2022 Teaching Note: Available |
Price: Rs.300 Organization : Industry : Countries : India Themes: Supply Chain Management, Outsourcing, Global Strategy |
Abstract Case Intro 1 Case Intro 2 Excerpts
Introduction
The news of the megaship ‘Ever Given’ blocking the Suez Canal captured headlines for six days in March 2021. After the ship was freed, there were speculations regarding the impact of the blockage on the global economy and the changes it could bring in the global supply chain industry. The total trade loss was estimated at US$ 54 billion. But considering the fact that it had an impact on commodity prices all across the world, the economic loss was expected to run into billions of dollars.
The impact and significance of the crisis was expected to last even after the incident had ended, Countries, companies, and industries around the world impacted by this crisis were in for tumultuous days ahead. According to Germany based insurer Allianz, global trade could be impacted to the tune of 0.2% to 0.4% per annum for every week of trade closure.
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