With each passing day, the closed Suez Canal in Egypt is costing an estimated 9 billion dollars’ worth of goods that should be passing through the water way, according to shipping journal; Llyod’s List.
An estimated, 70 ships, carrying a total of 4 million tons of cargo normally transit through the Suez canal, which is a critical waterway, used by 10 percent of the world’s maritime trade.
The blockade which is causing disruption in the flow of cargo traffic in the Mediterranean and the Red Sea, means millions of tons of cargo travelling to various destinations across the world, have been sitting idle since Tuesday night of March 23.
A complicated mission, involving tugboats and dredgers has since been underway to free the vessel, known as ‘’Ever Given’’ – one of the world’s largest container ships, carrying 20,000 containers, and weighing more than 200,000 tons and it is projected that could take about 2 days.
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