3/25, 10:44 AM (Source: TeleTrader)
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Suez Canal blockage disrupts $9.6B a day in ship traffic

A total of $9.6 billion per day may be halted in ship traffic due to the blockage of the Suez Canal, an assessment by Lloyd's List indicated on Thursday.

The industry journal said that these are "rough calculations," based on the cumulative traffic worth of west-bound and east-bound traffic. According to those estimates, west-bound traffic brings in $5.1 billion a day, while east-bound traffic brings in $4.5 billion. Between 165 and 185 vessels are currently waiting to transit the waterway, which has been temporarily suspended.

Rescue teams resumed their efforts today to dislodge the stranded container vessel, but experts believe their best chance may come as late as Monday when the tide reaches its peak. If those efforts fail, the blockage may last until the next tide which won't be for another 12 to 14 days.

Breaking the News / OL