# Suez Canal cleared, but disruption ‘could last months’ | Global Trade Review (GTR)

> 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.

- Date: 2021-03-31 · published 2021-03-31T12:00:00.000Z
- Category: logistics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/48035-suez-canal-cleared-but-disruption-could-last-months-global-trade-review-gtr
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

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.

## Read by commodity

- OCEANFRT: bullish ▲

## Sources

- gtreview.com: https://www.gtreview.com/news/global/suez-canal-cleared-but-disruption-could-last-months/

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