Traffic jam at Suez Canal sends global shipping costs soaring ...News

Russia Today - Economy
Traffic jam at Suez Canal sends global shipping costs soaring
source : Russia Today ( News ) () 7
Costs of overseas shipments are rapidly rising, as the massive container ship wedged in the Suez Canal is holding up billions of dollars-worth of goods, forcing logistics firms to reroute cargos away from the crucial waterway. The traffic jam has trapped freighters with goods and oil products worth over $10 billion, according to the latest estimates by Bloomberg. The agency added that the losses the global economy will eventually sustain are currently difficult to access. The cost of delivering a standard dry-cargo container with a total intake of 67.7 cubic meters is currently standing at $8,000, which is reportedly four times as much

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