We commemorate Bartolomeu Dias, who discovered the Cape of Good Hope in 1488. Billions of dollars were lost because the Suez Canal was blocked.
The Suez Canal has been blocked for the past few days. Taiwanese Evergreen company’s ship Ever Given got stuck in the canal in a cross way raised many questions. Shipments are made by traveling the African continent via Cape of Good Hope. The Portuguese sailor and explorer Bartolomeu Dias, who lived in the 15th century, would have been very proud if he knew that the Cape of Good Hope was the only way out, even after 533 years.
Due to the great difficulty in the supply chain and the container crisis in the world, the technology sector has also had its share. Ships loaded from Taiwan and China were delayed to reach Europe. Ships passing through Suez in a period of 12 to 16 hours now sail across the Cape of Good Hope and reach Europe in a week. Companies such as Huawei, Xiaomi, Samsung, Nokia, Ericsson with the most intense east-west connections are the most important part of the smartphone and laptop sector. The Panama Canal between the Atlantic and Pacific oceans, the Suez Canal connecting the Mediterranean and Red Sea, and the Strait of Hormuz in the Persian Gulf constitute the main branches of this transportation.
What if this crisis cannot be resolved as soon as possible? Yes, there is the Cape of Good Hope and can be shipped to Europe via the Strait of Gibraltar, but in the long run, technological products are shipped less due to enormous delays and financial burdens. This may also cause a disruption in production due to the financial crisis of companies. In other words, a global technology crisis may occur. In addition, if we consider that a significant part of the eastern oil is transported by ships, this crisis will not be limited to the technology sector.