Description: It’s a big boat stuck in a relatively small space. The Ever Given, a huge vessel with a length stretching over 70% of the height measurement of the CN Tower, has been stuck in the Suez Canal since March 23. This has been causing headaches for many as the Ever Given has shut down traffic through this major passage. With 10 % of global commerce passing through that narrow opening, supply chain disruptions are a concern.
Date: March 25, 2021
1) Have gasoline prices in your area been impacted yet by the blockage of the Suez Canal?
2) Of the various methods being considered to move the massive ship, which do you think sound the most promising?
3) Chapter 10 of Wiley’s Financial Accounting: Tools for Business Decision-Making, contains a section discussing provisions and contingent liabilities (see 10-9 and 10-10). How might the owners of the Ever Given account for any lawsuits which emerge from this supply chain disruption?