Egypt's Suez Canal & Ever Given - INR 73,000 Crore - 3rd update
The total cost of the six-day siege of the Suez Canal by the cargo ship Evergreen was USD$ 1 Billion. Cairo, The Suez Canal Authority of Egypt has estimated that the total cost of the Evergreen cargo ship, which was blocked for six days on the Suez Canal, could reach more than USD$ 1 Billion (approximately 73,000 Crore in Indian currency) . The world's largest cargo ship, the Ever Given, owned by a Japanese company, capsized on 23rd as it passed through the Suez Canal in Egypt, one of the world's major Canal system waterways. The shipping company said the ship was stranded across the canal due to a dust storm. The Suez Canal, a waterway connecting Asia and Europe, connects Mediterranean and the Red Sea. As a result, shipping on the canal, which is used for 20 percent of the world's trade, was completely disrupted. More than 450 cargo ships, including crude oil and livestock, lined up on both sides of the canal. According to Egyptian Experts, the loss resulted to Rs 65,000