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7/2/21

What’s Causing The Container Ship Traffic Jam Clogging Up Global Trade



Around the world, some major ports are experiencing a huge influx of containers, resulting in long supply delays. Trade wars, high demand, and a pandemic have created a perfect storm for the container ship industry which is trying to stay organized in the face of a wave of market unpredictability. The Ever Given, which clogged up the super important Suez Canal back in March of 2021, was the canary in the coal mine for recent global trade slowdowns. But before this calamity, disruptions from the Covid-19 pandemic hit port after port, with the aftershocks hitting the consumer market. In 2019, 11.1 billion tons of goods were moved across the world's oceans. And according to the World Shipping Council, the liner industry moves more than $4 trillion in goods annually. These vessels depend on people to get them from A to B and the complex logistics systems that make up the global trade network. But what happens when things don't go according to plan? » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision » Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Connect with CNBC News Online Get the latest news: https://cnb.cx/2TRNdCM Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC #CNBC What’s Causing The Container Ship Traffic Jam Clogging Up Global Trade


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