Suez Canal Snarled by Giant Ship Choking Key Trade Route

Oil prices rise on concern waterway could be blocked for days
Incident has caused congestion for tankers, ships in the area

WATCH: A giant container ship ran aground in the Suez Canal, blocking off traffic in both directions on one of the world’s busiest maritime trade routes. (Source: Bloomberg)

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By Ann Koh, Salma El Wardany and Aaron Clark

March 23, 2021 at 11:30 PM UTC

Updated on

March 24, 2021 at 9:41 AM UTC

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A giant ship could be stuck in the Suez Canal for days, blocking one of the world’s busiest maritime trade routes that’s vital for the movement of everything from oil to consumer goods.