Big Boat (1) vs. Global Freight (0)

The Ever Given incident in the Suez Canal earlier this year caused a major ripple effect across the global economy. As a small import business, I was not immune to the consequences. My business relies heavily on imports from Asia, and the sharp increase in freight prices caused by the Ever Given's blockade made it incredibly difficult to keep our business running smoothly. News first battered my self when my freight broker reached out saying I needed to cough up another $15,000 for our container (which was sitting ready to go in China).

When the news first broke about the Ever Given, I didn't fully grasp the impact it would have on my business. But as days turned into weeks and the ship remained stuck, it became clear that I was going to have to make some tough decisions.

One of the biggest challenges I faced was the sudden increase in freight prices. With so many ships backed up waiting to pass through the canal, freight companies were forced to reroute ships around the Cape of Good Hope, adding weeks to delivery times and driving up costs.

Fortunately, I had always placed a high value on preplanning and risk management.

Despite the challenges we faced, my business was able to weather the storm thanks to our dedication to preplanning and risk management. But I also recognize that not all businesses have the luxury of being able to pivot and adapt as quickly as I was (luckily) able to. For many small businesses, the Ever Given incident was a wake-up call, highlighting the need for better risk management and contingency planning.

But it wasn't just the Ever Given that I had to worry about. As I saw with the Suez Canal blockage and the subsequent increase in freight prices, a small event in one part of the world can have a devastating butterfly effect on the entire global economy. It's a reminder that the world is held together by gum and shoe strings, and that even the smallest disruption can have far-reaching consequences.

Moving forward, I plan to continue prioritizing risk management and preplanning to mitigate the impact of future disruptions. I will work to diversify my supply chain and establish even stronger relationships with my suppliers and freight partners. And I hope that other businesses will take a similar approach, recognizing that while the world may be held together by a thread, proper planning can help us weather even the most unexpected storms….

For bit at least

¯\_(ツ)_/¯