So How Much Did The Blocked Suez Canal Crisis Cost The World Economy?

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    Greensea Systems
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    By Aaron Clark (Bloomberg) — The immediate crisis of the Suez Canal blockage has ended, but the battle over damages from the waterway’s longest closure in almost half a century is just beginning.

    The long-term cost of the canal’s estimated $10-billion-a-day closure will likely be small, given that global merchandise trade amounts to $18 trillion a year. Yet with cargoes delayed for weeks if not months, the blockage could unleash a flood of claims by everyone affected, from the shipping lines to manufacturers and oil producers.

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