When the megaship Ever Given became wedged across the Suez Canal, it exposed the vulnerability of global supply chains. The vast vessel, which can carry 20,000 20ft containers, was blocking a route responsible for 12 per cent of world trade, with an estimated $400 million in cargo passing through each hour.
For six days the world, and increasingly exasperated shipping companies, watched as trade was re-routed round the Cape of Good Hope, adding around ten days to the journey time and leading to headlines about delays and shortages.
A freak gust of wind is said to have sent the boat spinning in the first place and it was another act of nature – an exceptionally high tide – that ultimately helped to shift it. In the end, the effects on global trade were minimal, but the incident did bring into focus the susceptibility of global supply chains and the extent to which companies are unprepared for “black swan” events.