Experts Estimate Ship Stuck In Suez Is Blocking $9.6 Billion In Maritime Traffic Each Day-Here’s Why Actual Losses Are Harder To Quantify

Experts Estimate Ship Stuck In Suez Is Blocking $9.6 Billion In Maritime Traffic Each Day-Here’s Why Actual Losses Are Harder To Quantify

Share to Linkedin The grounding of the Ever Given containership in the Suez Canal since Tuesday has blocked the movement of well over 100 other ships in one of the world's busiest waterways, but assessing the ultimate losses from this predicament will be extremely difficult, analysts say. 24 March 2021, Egypt, Suez: A ship sails along the waterway of the Suez Canal after the resumption ... [+] of the navigation traffic following the partial refloating of the "Ever Given", a container ship operated by the Evergreen Marine Corporation. The state-run Suez Canal Authority (SCA) reported that eight tugboats are trying to shift the Panamanian supertanker after it ran aground in the southern end of the Suez Canal and blocked the traffic in both directions. The ship turned sideways in the Canal, while on route from China to Rotterdam, due to reduced visibility that resulted from a dust storm hitting the area, according to SCA. Photo: Ahmed Shaker/dpa (Photo by Ahmed Shaker/picture alliance via Getty Images) Lloyd's List Intelligence said it based its "rough calculations" on the premise that westbound traffic in the canal is valued at about $5. 1 billion daily while eastbound traffic is worth around $4. 5 billion.