Satellite Images of the Suez Canal Reveal Traffic Jam Behind Ever Given

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  • Bloomberg Quicktake: Now published this video item, entitled “Satellite Images of the Suez Canal Reveal Traffic Jam Behind Ever Given” – below is their description.

    An abrupt starboard turn in the Atlantic Ocean is the perfect illustration of the trade disruption caused by the blockage of one of the world’s most important waterways.

    The Marlin Santorini, a tanker capable of carrying 1 million barrels of oil, switched destinations away from the Suez Canal, turned south and appears to be heading around Africa.

    The diversion could add about 6,000 miles to the ship’s journey and something like $300,000 in fuel costs, but it’s just one of hundreds of individual setbacks suffered this week by vessels that carry everything from raw materials to finished goods around the world.

    Swedish furniture giant Ikea and yellow bulldozer-maker Caterpillar Inc. are among the many international companies facing supply-chain headaches. The crisis is buoying natural gas prices in Europe, delaying wind farms in Asia and could soon hit your instant coffee.

    With the container ship Ever Given likely to remain stuck in the Suez Canal until next week, it’s only the start of the rearranging of global trade.

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    In This Story: Atlantic Ocean

    The Atlantic Ocean is the second-largest of the world’s oceans, with an area of about 106,460,000 km². It covers approximately 20 percent of Earth’s surface and about 29 percent of its water surface area.

    The Atlantic Ocean occupies an elongated, S-shaped basin extending longitudinally between Europe and Africa to the east, and the Americas to the west.

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    Caterpillar Inc. (NYSE: CAT) is an American Fortune 100 corporation which designs, develops, engineers, manufactures, markets, and sells machinery, engines, financial products, and insurance to customers via a worldwide dealer network. It is the world’s largest construction equipment manufacturer.

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