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Global Trade Review reports that the Ever Given was refloated on March 29 and vessel traffic has resumed, though the ship remained anchored in the Great Bitter Lake. Allianz estimated a week of closure would cost global trade $6bn to $10bn, and a backlog of around 370 ships remained.
Experts expect the backlog to keep freight and delivery schedules stretched for months, sustaining higher shipping costs for grain and oilseed trades. Delays also keep supply timing uncertain for importers.
gtreview.comJohn BasquillMar 31, 2021Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
