Egypt's average loss of Suez Canal blockage hits $52M in 4 days

Mon, 29 Mar 2021 - 01:00 GMT

Head of the Suez Canal Authority, Lieutenant-General Osama Rabie stated that Egypt’s average daily loss due to the blockage of the Suez Canal hits $ 13 million.

Egypt's Suez Canal Blockage causes large loss for global reinsurer industry: Fitch

Mon, 29 Mar 2021 - 10:29 GMT

It added that the blockage would reduce global reinsurers’ earnings but should not materially affect their credit profiles, while prices for marine reinsurance will rise further as a consequence of the container ship ‘Ever Given’ grounding in the canal.