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Container fire at Turkish port to cause $679 million in trade loss

Posted On: Feb. 10, 2023 9:53 AM CST

U.K.-based risk management firm Russell Group Ltd. said that the container fire at the Iskenderun port following the massive earthquake will cause a loss of around $679 million in trade, Strategic Risk reported. The fire forced many shipping lines to postpone or divert shipments to the Mersin port in Turkey. The Iskenderun port focuses on domestic Turkish trade, rather than having a broader regional hub role.