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**sonatine** · 03-25-2021, 01:40 PM

yeah im hearing this is costing 400-500 million USD _an hour_.

**Bob** · 03-25-2021, 02:39 PM

The math doesn't work on that. About 50 ships a day normally pass through the canal, so the hourly lost value is approximately the difference between two ships going through the canal vs. going around Africa and/or waiting out the delay and/or their cargo spoiling . Which is probably a shitload of money, but it's not 200-250 million per ship.

**Bob** · 03-25-2021, 03:47 PM

That article gets its $400 million figure from this Bloomberg article:

A rough estimate shows the blockage is costing about $400 million an hour, based on calculations from Lloyd’s List that suggest westbound traffic is worth around $5.1 billion a day and eastbound traffic is approximately $4.5 billion. A rough estimate shows the blockage is costing about $400 million an hour, based on calculations from Lloyd’s List that suggest westbound traffic is worth around $5.1 billion a day and eastbound traffic is approximately $4.5 billion.

When you look at the underlying data-heavy article on Lloyd's List, it becomes clear that Bloomberg took the total value of cargo that flows through the canal per day and divided by 24. But that cargo doesn't just lose 100% of its value because the canal is closed. The actual loss is Marty and a bunch of Hondurans get a couple week's worth of shore leave in Egypt, a few boats that are carrying perishable foodstuffs are fucked, it's a bad time to be human-trafficked in a cargo container, and it's going to be real hard to get a PS5 in Europe for a couple months.

**Bob** · 03-25-2021, 05:37 PM

Embedded Tweet

**Zalgo** · 03-25-2021, 06:01 PM

the fee for passage for a ship is 8.5$ per ton per ship and 24 hour max capacity is 76 ships so for most container ships its 300k$ to 700k$ per ship so if this really takes 2 weeks to clear we look at roughly 450 000 000 in losses for the suez canal, most of those ships can pack 10 000 to 14 000 containers (TEU), so all this merch now sits there and has to go around cap good hope which needs to bunker more fuel, a 10 000+ TEU containership burns at 17 knots 100 tons of fuel per day which atm costs something like 550$ per ton per day and its a 10 day longer voyage going from HK to say NL so its 550 000 per ship per day so if we say again 76 ships per day in 2 weeks we look at 585 200 000 in extra fuel costs thats roughly 1 billion dollars in 2 weeks only factoring fuel and fees, dividing this through the hours in 14 days is roughly 3 million a hour

**Zalgo** · 03-26-2021, 10:41 AM

**sonatine** · 03-26-2021, 04:44 PM

**Zalgo** · 03-27-2021, 05:24 PM

dont forget the seawise giant

**sonatine** · 03-27-2021, 05:37 PM

**sonatine** · 03-28-2021, 01:15 PM

**sonatine** · 03-28-2021, 01:43 PM

Zalgo are you not seeing images? i viewed via tor without being logged in and it looks fine:

**Zalgo** · 03-28-2021, 02:18 PM

hm no its just empty not even a placeholder or something may be my security system is acting up again are those uploaded? or just links from some where else? sonatine

**Zalgo** · 03-28-2021, 04:27 PM

funny thing is i can see the screenshot but not the other pictures

**Sanlmar** · 03-28-2021, 11:56 PM

Don’t let Zalgo’s rookie contract expire. I’d hang the franchise tag on him or just do the right thing and lock him up with a long term deal.

Announcement

Announcement

2020 did wreck a lot of shit while drunkenly stumbling around playing with a blowtorch until it was put out of its missery....

2020 did wreck a lot of shit while drunkenly stumbling around playing with a blowtorch until it was put out of its missery....

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