What is the Suez Canal? Thanks for asking!
On March 23rd, the Ever Given container ship ran aground in the Suez Canal, blocking traffic in both directions. Such a blockage had never occurred before and it took six days for salvage crews to free the 220,000-ton cargo ship.
Over 400 ships were forced to queue, waiting for Ever Given to be moved. Shipping data suggested the obstruction was holding up $9.6M worth of goods each day. Insurer Allianz estimated that each additional day contributed to a further $6bn - $10bn loss for world trade.
Wow, that sure is one important waterway! When was the Suez Canal built? Who does the canal actually belong to? In under 3 minutes, we answer your questions!
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