Ever Given

So I'm going to tell you a story that I'll do my best to explain it, that I think explains this whole subject better than like any definition ever could from your textbook.

In March of 2021, a container ship called the Ever Given, it's E-V-E-R and then G-I-V-E-N, it's making its way through the Suez Canal, and this is in Egypt, okay? And if you've never seen this ship, picture this, okay? Get your kind of visual brain going.

It's about 400 meters long.

Like, stand it on its end, and it would be as tall as the Empire State Building.

Boy, when you think about this visual for a second, about how much water it displaces, it's just massive.

It can carry around 20,000 shipping containers on it at one time.

And on a windy morning, the Ever Given turned kind of sideways, and unfortunately, it wedged itself into the banks of the canal.

and the bow stuck in on one side and the stern got stuck on the other.

Remember March of 2021? Just let me think about it for a moment.

There was a container ship called the Ever Given.

That ship is a quarter mile long.

It ran aground sideways in the Suez Canal on March 23rd and just plugged the canal like a cork.

That goes through.

And it's only recently that some of the big container lines that ship those, you know, the massive ships the size of the Ever Given, the one that got stuck in the Suez Canal, it's only recently that they have begun very, very, very, in a small way, beginning to resume transits through there, but still containerized shipping is at about 20% of the pre-2023 levels.

But effectively, the Houthis really gave around the playbook when it comes to the impact that you can have an outsized impact and you can really reverberate through the global economy by shutting down and focusing on these choke points.

And so the 20% that, I mean, this is fascinating.

And that's...

The Ever Given.

The ship that blocked the world.

What was it called? The Ever Given.

Ever Given? Ever Given.

Ever Given...

Fucking... constipation

i hope not well it did block up the world so i mean it was clearly a block of the government billions of dollars disrupted trade in march of march 23rd of 2021 is when it actually started a massive container ship called the ever given is traveling through the suez canal Now, for anybody unfamiliar, the Suez Canal is one of the most important shipping routes on the entire planet.

The canal from the Nile to the Red Sea also has a direct descendant.

In March 2021, a single container ship, the Ever Given, got wedged in the Suez Canal for six days and held up an estimated $9 billion worth of trade a day.

Then Trump's most recent disaster, that being the Iranian war, showed what most competent people in the American government knew all along, that the Iranians would shut down the Strait of Hormuz.

The Arabs of the 640s understood what we keep relearning.

Then we had an incident in the Suez Canal, a ship that ran aground and basically blocked the canal for six days or so.

That was such a strong backlog in the supply chains that people realized why we actually need shipping right the ever given right i think yes the ever given it

was

yeah yes exactly and and that was a that was a first or a second wake-up call if you're the first wake-up call was go with second one was uh was this incident um and um And then basically came all these war situations that we are dealing with in the moment.

So why not take an alternative route and avoid the troublesome strait altogether? Unfortunately, that means navigating around the Cape of Good Hope in South Africa, which adds some 10 days to the journey.

The fragility of global trade was demonstrated in 2021 when the Ever Given blocked the Suez Canal for six days, causing widespread logistical delays.

This new escalating situation raises concerns about a potential surge in prices for shipped goods.

Drawing parallels to the Ever Given incident, the impact on prices could be significant.

A US-led multinational force was deployed in the region in December to safeguard trade routes.

Their mission is to neutralize threats, intercept incoming missiles, and ensure the safe passage of ships.

Mm-hmm.

We don't care until there is a, a disruption or crisis of some kind, which is why, uh, the world found it utterly fascinating when, I think it was in 2021, uh, the Ever Given got stuck in the Suez Canal.

And, and people realized that, oh, uh, the Suez Canal is important to, uh, global logistics.

Yeah.

Um, and slow delivery of furniture.

I imagine that's to do with shipping and I don't know what that's to do.

Are they still blaming when, are they still blaming when the, uh, ship, the Ever Given, went to the side of the Suez? Remember that? Destroyed us.

Destroyed transportation for years.

That's happened.

And as Ben texts, he is right.

The oil and gas prices have jumped on Middle East shipping attacks, sending bond yields higher and stocks lower.

That's happening as we speak.