The blockage prevents roughly $9.6 billion of goods from reaching their destination every day (source: Lloyds List).
With few alternative routes to ship goods from China to Europe (source: AP News), the blockage will impact all goods sold online and in-store, vital commodities and all containerized imports/exports.
Containerized goods make up 26 percent of total Suez traffic and shipping times are now forecast to increase by 30 percent due to the incident (source: Lloyds List).
The precise impact on business in Europe and the U.S. varies from increased waiting time to added shipping costs, should vessels divert around Africa (source: AP News).
Efforts are currently underway to re-float the vessel. But, with rescueefforts estimated to take anywhere between one day and one week, hundreds of ships are left in a holding pattern and global marine trade at a standstill.
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