Huge Traffic Jam 

Suez Canal is blocked by the "Ever Given" causing a Huge Traffic Jam and Supply Chain Disruptions.

Egyptian authorities Wednesday were engaged in a complicated effort to dislodge a giant container ship stuck in the Suez Canal, blocking all traffic on one of the world’s busiest shipping arteries.

The incident involving the Ever Given, which at 400-meters (1,312 feet) is one of the world’s biggest ocean vessels, had immediate consequences—and with maritime executives not expecting ship transits to resume Wednesday—risks ongoing disruption.

Ship trackers and brokers said more than 100 ships were waiting to transit the 120-mile canal, which connects the Red Sea with the Mediterranean. Even if the blockage is cleared quickly, shipping executives expect the fallout from the incident to last for days, threatening a new pressure point in a global supply chain already under intense strain.

The Ever Given can carry more than 20,000 containers and is taller than the Empire State Building if turned upright.

“There are ships ahead and behind us as far as you can see,” said Manolis Kritikos, a mechanic at a Greek-operated tanker.

Pilot Error

The ship got stuck attempting to navigate the canal in extremely high winds. 

“Piloting ships such as this in wind conditions outside accepted operating parameters is a recipe for disaster,” said Gregory Tylawsky, a ship captain with the Maritime Expert Group based in Santa Rosa, Calif.

Supply Chain Disruptions Mount


Largest Shipping Decline Since 2009 and That's Before Coronavirus

The January Cass Freight Shipping Index is more bad news for the global economy.

Flat is the New Up: Cass Shipping Index Down 12 Straight Months

In November, shipment volumes fell 3.3% They are are negative year-over-year for 12 consecutive months.

Tesla's Executive Departure List: Bailing the Sinking Ship

Mark B. Spiegel at Stanphyl Capital sent me a list of Tesla executive departures. The list was compiled by Jim Chanos.

Producer Prices: Up 0.2% Month-Over-Month, Down 0.2% Year-Over-Year

The BLS reports another mostly benign producer price report. Trucking is one exception.

Autonomous Future: Electric Feeder Ships

Humans at Sea reports on the World’s First Autonomous, Zero Emission Container Ship.