The Suez Canal Incident and The Issues of Global Governance

... Egypt had lost about $90m in revenues. The overall financial losses from the Canal being blocked for six days have been estimated at between $5bn and $10bn. While being significant, these costs are far from excessive, if split between the deep-pocketed transport and insurance companies affected by the incident. Now let us imagine as if the Suez Canal were blocked following a well-planned and professionally executed terror attack. For obvious reasons, modern container ships are not equipped with security ...