PS5 stock shortages could last even longer than anticipated due to the ship that has blocked Suez Canal. The blockage has affected a key trade route between Asia and Europe, with the routinely out-of-stock PlayStation 5 now set to potentially suffer further setbacks.
How the Suez Canal incident could impact PS5 stock
The Suez Canal is a route in Egypt that sees roughly 10% of all global trade pass through it, though it was blocked by the ship Ever Given which managed to enter it sideways and get stuck in the process. As a result of this dramatic incident, various manufacturers are facing combined losses of an estimated $400 million per hour for the time the Ever Given container remained stuck.
Sony and its PS5 is but one product that is facing troubles as a result of the Suez Canal being blocked, given that ships traveling from Asia to Europe will have had their schedules delayed while the Ever Given remains stuck. The PS5 is manufactured in Asian territories with its stock predominantly being sent to retailers via ship, so the blockage will prevent shipments from the region and likely cause a backlog.
Considering that the PS5 is already hard to come by as a result of a global semiconductor shortage, this is an additional delay that prospective buyers didn’t need. Many of those who want to purchase Sony’s current-gen console remain empty-handed, and the Ever Given’s precarious placement in the Suez Canal is only going to add further strain on PS5 production.
Fortunately, the Ever Given was freed from the Suez Canal today after nearly a weeklong operation. According to officials (via BBC News), safe passage was finally made possible through the route at 8 PM local time, finally allowing ships to pass through it once again.
However, while the ship may no longer be stuck, it will have caused delays to international shipping that could prove to be disastrous for many manufacturers. Those without a PS5 are likely accustomed to waiting for new stock to arrive, though this could delay this process even further.
In other news, the Cyberpunk 2077 1.2 update was recently revealed, adding hundreds of new changes to the game. Animal Crossing’s Sanrio cards also briefly went in stock before being snapped up scalpers, angering Nintendo fans in the process.
Source: Business Insider