By Rachel Richardson, Rob Hitchins
Global attention focused on shipping in March, as container ship Ever Given blocked the Suez Canal, disrupting movements along a route that channels close to 12% of global trade. While supply chains ultimately rerouted, and the backlog at the canal cleared quickly, the knock-on effects of delays at ports were felt for weeks, and the disruption to trade (around US$9 billion worth was delayed per day) will contribute to inflationary pressures. The Ever Given story put a magnifying glass on the stress that shipping was already under due to the pandemic.