Suez Canal blocked update: Is the ship still stuck in the Suez Canal? | World | News

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How significant is the blockage to global trade?

The shipping expert Lloyd’s List estimates the closure of the Suez Canal is disrupting more than $9bn (£6.5billion) worth of goods per day.

Every year, about a tenth of the world’s trade is thought to pass through the canal.

Lloyd’s List estimates the backlog of ships that are now grounded due to the blockage has reached nearly 250.

David Smith, head of hull and marine liabilities at McGill and Partners, told the Independent: “The blocking of the Suez Canal might appear to be a local issue, but in truth, it is a situation of global significance, with more than 10 percent of world trade passing through the narrow Egyptian waterway.

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