Summary: The Suez Canal blockage, a disastrous situation that caused severe negative effects for both Egypt, and the entire world Economy; this severity is owing to the fact that the Suez Canal contributes two percent of the Egyptian GDP, also the Canal is the route for twelve percent of the international trade of goods consequently; the blockage caused by the drifting of the ship Ever Given has hurter Egypt and the international economy, plenty of economic losses, with almost four hundred delayed ships. On each day of delay, twenty percent of the world trade was delayed, which in turn necessitated a number of other damages; the loss of one million barrels of oil and 8% of liquefied natural gas pass through the Canal each day . The Canal itself lost US$ 14,000,000 to US$ 15,000,000 million for each day of blockage, beside the daily losses for the Canal the overall losses and damages were evaluated to be US$ 916,526,494 that included the compensation amount for all the Canal ...
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