The closure of the Suez Canal due to a side-turning vessel is projected to cost $9.6 billion in ship traffic. 185 ships are on standby to cross the clogged canal both way
In the Suez Canal, when a ship runs aground and shuts down transportation in both directions, calculations suggest it could stop about $9.6 billion in daily ship traffic.
According to Lloyd’s List, the value of westbound traffic reaches about $5.1 billion per day, while Eastbound traffic reaches about $4.5 billion.
About 185 ships are waiting for passage after the ship ran aground, according to Bloomberg. According to Lloyd’s, the figure is 165
Work is underway to open the canal, which was closed to traffic after the 400-metre vessel ran aground. With the channel closed, many ships, including 40 bulk carriers carrying commodities, cement, fuel and chemicals, are queuing to cross the channel, according to Bloomberg.