By Salma El Wardany and Mirette Magdy (Bloomberg) —
The blockage of the Suez Canal is wreaking havoc on global seaborne trade, raising the prospects of higher inflation with more ships ferrying cargoes and commodities forced to divert.
A special dredger has been deployed to free the vessel that has been stuck in the key waterway for days. Natural gas prices have increased and food supply chains may be affected if the blockage persists. Mark Ma, owner of China-based Seabay International Freight Forwarding Ltd.
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