KeysToExercisesUnit15TextA
Exercises
ComprehensionoftheText
Readthetextandanswerthefollowingquestions.
WhydidglobalmediareportthattheEverGivenincidentcausedaworldwidecrisiswithglobalconsequences?
Becauseitdemonstratedhowamajorstrategicaxisforworldtradeandnavigationcanbecomeachokepoint.
WhydidSylvainGaudensaythatthegroundingofthegiantEverGivenhadshowntheworldthehiddenrealityofoureconomicsystem?
Shippingrepresentsthebackboneofinternationaltradeandcommerce.Atsometimeintheirproductionanddistribution,90%ofallconsumergoodstransitbysea,beitasrawmaterials,components,orfinishedproducts.Someproductsrequiremanystepsintheirmanufacturingandthusmakeitaroundtheworldseveraltimesbeforereachingtheconsumer.
Whyistimesoessentialforshippingindustry?
Becausesomeofthosecargoesareperishableandtheyareexpectedbytheirowners.
WhatelementscontributedtotheEverGivenbeingblocked?
Asandstorm,poorvisibility,astrongsouthwindandsomemiscommunicationcombinedtomaketheEverGivenaccelerateinthenarrowchannel,renderingitun-maneuverable.
HowmanyshipsonaveragepassthroughtheSuezCanaleveryday?Howmanyvesselsintotalwereblockedfromcrossingthewaterwayandhowlongdidittaketoreleasethem?
Anaverageof52shipspassthroughtheSuezCanaleveryday.Asmanyas400shipswereblockedintotal.Ittooksixdaysandanintensiveinternationalrescueoperationtoreleasethevessel.
Howfastarethesevesselsandhowmuchwillitcosttorentsuchaship?
Thesevesselscircumnavigatetheglobeat20knots.CharteringashipcancostasmuchasUSD100,000perday.
WhyarematterscomplicatedintheEverGivenincident?
Becausethepartiesinvolvedhaveinsurancepoliciesoriginatingfromallovertheworld,includingtheshipowner,thecharterer,theownersofthegoods,eventheSuezCanal.Allseektorecover