This past March, the world watched as the container ship Ever Given clumsily blocked a major artery in the global supply chain – leading to a six-day blockage of the world’s most important shipping corridor, the Suez Canal. The disruption held up an estimated $9 billion of trade per day. Today, the Port of Los Angeles and the Port of Long Beach are experiencing disruptions leading to a record number of ships waiting off the coast of California. These disruptions have permeated throughout the supply chains for goods that Americans rely on from computers and chips to cars and clothing. The lesson is clear: The maritime industry is full of chokepoints which, if manipulated, can cause cascading economic impacts that affect Americans. While these recent disruptions were not caused by hacks or bad actors in cyberspace, they demonstrate the vulnerable chokepoints in the global marketplace. We aren’t dealing in hypotheticals, either – […]
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