Losses from Ever Given blockage of Suez Canal estimated to reach more than $1 billion

The chairman of the Suez Canal Authority has valued losses and damages from the Ever Given blockage at a potential $US1 billion ($1.3 billion).

The six-day blockage threw global supply chains into disarray after the 400-metre-long ship became jammed diagonally across a southern section of the canal, the shortest shipping route between Europe and Asia.

“The amount of damage and losses, and how much the dredgers consumed, will be calculated,” authority chairman Osama Rabie said.