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Suez Canal blockage could cause $40 billion in trade disruption

Posted On: Mar. 25, 2021 9:55 AM CST

Ever Given

U.K.-based Russell Group Ltd. said that Evergreen Marine Corp.-operated Ever Given vessel, currently trapped in the Suez Canal, could cause more than $40 billion in trade disruption, as it blocks one of the world’s busiest trade routes, Reinsurance News reported. The containership, which ran aground due to strong winds, is carrying $89 million worth of goods, including $4 million worth of clothing items.

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