The immediate crisis of the Suez Canal blockage may have ended, but the battle over damages from the waterway’s longest closure in almost half a century is just beginning. The long-term cost of the canal’s estimated $10-billion-a-day closure will likely be small, given that global merchandise trade amounts to $18-trillion a year. Yet with cargoes delayed for weeks if not months, the blockage could unleash a flood of claims by everyone affected, from the shipping lines to manufacturers and oil producers.
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