In News
Recently, the cargo ship ‘Ever Given’ has been finally freed after spending almost a week stuck in the Suez Canal.
Suez Canal
- Located in Egypt, the artificial sea-level waterway was built between 1859 and 1869, linking the Mediterranean Sea and the Red Sea.
- As the shortest route between the Atlantic Ocean and lands around the Indian and western Pacific Oceans.
- It negates the need to navigate around the Cape of Good Hope in Africa and thus cuts the distances by up to 7,000 km.
- History
- It has existed in one form or the other since construction started under the reign of Senausret III, Pharaoh of Egypt (1887-1849 BC).
- Construction picked up pace around 300 years back as maritime trade between Europe and Asia became crucial for many economies.
- In the mid-1800s, French diplomat and engineer Ferdinand de Lesseps convinced the Egyptian viceroy Said Pasha to support the canal’s construction.
- In 1858, the Universal Suez Ship Canal Company was tasked to construct and operate the canal for 99 years, after which rights would be handed to the Egyptian government.
- Despite facing multiple problems, the canal was opened for international navigation in 1869.
- The French and British held most of the shares in the canal company. The British used their position to sustain their maritime and colonial interests by maintaining a defensive force along the Suez Canal Zone as part of a 1936 treaty.
- In 1954, facing pressure from Egyptian nationalists, the two countries signed a seven-year treaty that led to the withdrawal of British troops.
- Take Over by Egypt
- In 1956, Egyptian President Abdel Nasser nationalised the Canal to pay for the construction of a dam on the Nile.
- This led to the UK, France and Israel mounting an attack on Egypt.
- The conflict ended in 1957 after the United Nations got involved and was followed by the first instance of the UN Peacekeeping Forces being deployed anywhere in the world.
- In 1967, due to neighbourhood issues, Egypt closed the canal to all shipping, which lasted until 1975.
- The canal was the focal point of the Arab-Israeli War of 1973, with the Arab coalition led by Egypt and Syria.
- Significance
- It is one of the world’s most heavily used shipping lanes, carrying around 10 per cent of world trade by volume, every year.
- The average 50 ships that pass through it daily carry about USD 9.5 billion worth of goods.
- The freight and cargo include everything from crude oil to perishables.
- Goods made in China bound for Europe also go through the canal instead of taking the detour around Africa.
(Image Courtesy: The Guardian)
About the Crisis
- The Ever Given, a Panama-flagged and Japanese-owned ship wedged itself sideways into a single-lane section of the canal, due to weather obstructions or possible human/technical error.
- It was hauling goods from Asia to Europe with its destination to Rotterdam.
- After getting stuck, it blocked the major trade route and caused billions in losses.
- The freeing of the vessel came after dredgers vacuumed up sand and mud from the vessel’s bow and various tugboats pushed and pulled the vessel, managing to partially refloat it.
- Salvage crews were aided by a high spring tide as well.
- Spring tides occur when tides ‘spring fort’ during new and full moons (when the Earth, Sun, and Moon are in alignment).
- In this case, the tides in the Canal rose about 46 centimetres (18 inches) helping the efforts.
- Impact
- Owing to the accumulation of hundreds of vessels in the region, a massive traffic jam has ensued near the route. It can take upto 10 days to clear the backlog of ships.
- The obstruction held up USD 9 billion each day in global trade and straining supply chains already burdened by the Covid-19 pandemic.
- Dozens of vessels opted for the alternate route around the Cape of Good Hope at Africa’s southern tip, a 5,000-kilometer (3,100-mile) detour, that added around two weeks to the journey time and fuel and other expenses.
- The shutdown had threatened to disrupt oil and gas shipments to Europe from the Middle East and raised fears of extended delays, goods shortages and rising costs for consumers.
- It also raises questions about finding solutions to prevent future accidents and reducing the global dependence on this narrow waterway.
(Image Courtesy: IE)
Source: IE
