The congested Suez is blocking daily traffic for nearly $ 10 billion

According to rough calculations, the volume of daily shipping across the Suez Canal, which has been blocked for the second day, is around $ 9.6 billion (€ 8.12 billion). On Tuesday, due to bad weather, the Evergreen ship, sailing from China to Rotterdam, which is flying the Panama flag and is 400 meters long and 59 meters wide, got stuck in a shallow in the canal. It has not yet been released and is still blocking shipping in both directions. The daily value of shipping across the Suez Canal to the west is estimated at $ 5.1 billion and for east to $ 4.5 billion. Bloomberg estimates that about 185 ships are currently waiting to cross the canal. The Suez Canal connects the Mediterranean Sea with the Red Sea and is one of the most important waterways in the world connecting Europe and Asia, which accounts for about 12% of global trade. The Suez Canal Authority, which owns, operates and maintains the Suez Canal, is also a major source of foreign exchange for Egypt.