# Red Sea and Panama Canal disruptions amount to $1.25 trillion economic loss - Port Technology International

> Russell Group estimates that disruption to the Red Sea and Panama Canal has caused an economic loss of $1.25 trillion. Its analysis of Red Sea trade from October 2023 to May 2024 found crude oil, plastics, electronics, cars and clothing were most affected.

- Date: 2024-09-12 · published 2024-09-12T12:00:00.000Z
- Category: logistics · region Global · magnitude low
- Page: https://feedsoft.ai/events/17005-red-sea-and-panama-canal-disruptions-amount-to-1-25-trillion-economic-loss-port
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

The estimate underlines how prolonged route disruption adds cost and delay across global trade, reinforcing the upward pressure on ocean freight rates for bulk commodities.

## Read by commodity

- OCEANFRT: bullish ▲

## Sources

- porttechnology.org: https://www.porttechnology.org/news/business/red-sea-and-panama-canal-disruptions-amount-to-1-25-trillion-economic-loss/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.