End of Suez snarl marks beginning of new stress on global trade

A picture released by Egypt's Suez Canal Authority on March 29, 2021, shows a tugboat pulling the Panama-flagged MV 'Ever Given' container ship after it was fully dislodged from the banks of the Suez. - AFP

LONDON (Bloomberg): Now removed from the Suez Canal’s main channel, the Ever Given leaves in its wake several weeks or months of disruptions across a world economy where the pandemic revealed both the sturdy backbone of global trade and an Achilles’ heel.

"It’s not a cork-out-of-a-bottle moment,” said Peter Aylott, director of policy at the U.K. Chamber of Shipping. "We could still be days away from the canal being completely free.”