Abstract
Recent phenomena such as pandemics, geopolitical tensions, and climate change–induced extreme weather events have caused transportation network interruptions, revealing vulnerabilities in the global supply chain. A salient example is the March 2021 Suez Canal blockage, which delayed 432 vessels carrying cargo valued at $92.7 billion, triggering widespread supply chain disruptions. Our ability to model the spatiotemporal ramifications of such incidents remains limited. To fill this gap, we develop an agent-based complex network model integrated with frequently updated maritime data. The Suez Canal blockage is taken as a case study. The results indicate that the effects of such blockages go beyond the directly affected countries and sectors. The Suez Canal blockage led to global losses of about $136.9 ($127.5–$147.3) billion, with India suffering 75% of these losses. Global losses show a nonlinear relationship with the duration of blockage and exhibit intricate trends post-blockage. Our proposed model can be applied to diverse blockage scenarios, potentially acting as an early-alert system for the ensuing supply chain impacts. Furthermore, high-resolution daily data post-blockage offer valuable insights that can help nations and industries enhance their resilience against similar future events.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.