Suez Canal

Only the cargo owners of the vessels blocked in the Suez Canal did not joke about the situation in the Suez Canal. According to Bloomberg, approximately 240 vessels – container carriers and tankers – accumulated in the queue at both ends of the “logistics artery” during the blockade. About 12% of world trade passes through Suez. That’s 50 ships every day and about 19,000 a year. Egypt alone lost

Only the cargo owners of the vessels blocked in the Suez Canal did not joke about the situation in the Suez Canal. According to Bloomberg, approximately 240 vessels – container carriers and tankers – accumulated in the queue at both ends of the “logistics artery” during the blockade. About 12% of world trade passes through Suez. That’s 50 ships every day and about 19,000 a year. Egypt alone lost 13-14 million dollars every day that the canal was down. Lloyd’s List magazine estimates that every hour of downtime costs world trade $400 million. Broken supply chains, stoppage of production, loss of perishable goods – no one will compensate these losses. The end buyer will have to pay for the “$10 billion traffic jam” in Suez. Taking into account the events of last year, the more frequent losses of containers at sea and the situation with Ever Given, we can draw a simple conclusion – cargo insurance in case of force majeure becomes a mandatory condition.

You can always insure the cargo yourself or contact our managers by phone +38 097 116 4685, or by leaving a request on the sitewww.duke-active.com Sincerely, Your Duke Active