Suez Canal disruption: How a grounded container vessel is choking global trade

Pictures of the gigantic container ship stuck in the Suez Canal have sparked a meme fest on social media but the economic outcome of the mishap is way more serious than it seems. Here is all you need to know:

A 400-metre cargo vessel, more than double the size of Statue of Unity, continues to block Egypt's Suez Canal three days after losing control while entering the narrow passage from the Red Sea. Pictures of the gigantic ship stuck in the narrow canal have sparked a meme fest on social media but the economic outcome of the mishap is way more serious than it seems. For starters, the ship -- Ever Given -- has blocked 12 per cent of the world's seaborne trade and has already led to losses worth billions of dollars. And the salvage company trying to refloat Ever Given said on Friday that it may take weeks before the task can be accomplished.