Suez Canal blockage could cost over $100m as supply chains face disruption

The containership Ever Given. Credit: Shutterstock/Martin Lueke

A mega containership wedged in the Suez Canal could cost the owner and insurers millions, with about 150 ships backed up since Tuesday evening and supply chain issues building every day. David Smith, head of hull and marine liabilities at McGill and Partners, said the broker has heard figures as high as $100m in insured losses mentioned. But he said…

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