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How the Suez Canal cargo ship jam impacts billions in global trade

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ISMAILIA, Egypt (AP) - The cargo ship blocking the Suez Canal is holding up traffic that carries nearly $10 billion worth of goods every day, so a quick clearing of the logjam is key to limiting the economic fallout.Efforts continued Thursday to dislodge the Ever Given container ship and restore traffic on the critical man-made waterway that connects the Mediterranean to the Red Sea and provides a shipping shortcut between Europe and Asia.RELATED: Massive cargo ship the size of a skyscraper turns sideways, blocking Suez CanalAbout 10% of all global trade flows through the 120-mile-long (193-kilometer-long) canal, which allows tankers and container ships to avoid a long trip around the southern tip of Africa.The iconic shipping journal.

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United States
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