Suez Canal blockage costing global trade $400 million per hour

The cargo ship blocking the Suez Canal is costing $400 million dollars an hour in global trade.

That is the estimate of some economist traffic remains at a standstill, but that could change this weekend.

The Egyptian President’s Advisor on Seaports, who previously chaired the Suez Canal Authority, believes that the ship should be freed over the weekend, but other sources think it could take weeks to refloat the ship.

The channel is used by nearly a third of all global container traffic.


Suez Canal suspends traffic as container ship remains stuck