How much cargo is stalled daily by the Suez Canal blockage?

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An estimated US$9.6 billion worth of cargo is stalled daily by the Suez Canal blockage.

The Suez Canal blockage is causing significant daily disruptions to international trade, with an estimated US$9.6 billion in cargo held up each day between Asia and Europe. The MV Ever Given, a container ship longer than four football fields, has been wedged diagonally across the canal since Tuesday, halting traffic in both directions. This situation has led to widespread supply chain concerns and forced companies to consider alternative, longer, and more expensive shipping routes.
Daily Financial Losses for Egypt

Egypt is incurring substantial revenue losses due to the canal's closure. Suez Canal Authority chief Osama Rabie stated that Egypt is losing approximately US$12 million to US$14 million each day the canal remains blocked. This figure highlights the immediate economic impact on the country that relies heavily on transit fees from this vital global shipping lane.
Impact on Global Trade Routes

The stranding of the MV Ever Given has disrupted the flow of goods between Asia and Europe, two of the world's most significant trading regions. The blockage has forced shipping companies to re-evaluate their logistics, with some opting to reroute vessels around Africa's Cape of Good Hope. This alternative route is considerably longer and more costly, leading to increased transit times and expenses for businesses.
Broader Economic and Logistical Repercussions

Beyond the direct cargo value, the Suez Canal blockage has created a ripple effect across various sectors and regions. For instance, Syrian authorities have had to ration fuel supplies due to delayed oil imports. Additionally, concerns have been raised about the welfare of livestock on ships affected by the delay, with one NGO warning of a potential tragedy for approximately 130,000 animals.

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How much cargo is stalled daily by the Suez Canal blockage?

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