The container ship that got stuck in the Suez Canal and blocked all inward and outbound cargo is costing the global economy about $400 million worth of trade revenue an hour, CNBC reported. Shipping data company Lloyd's List has estimated that about $9.6 billion worth of goods passes through the passage each day: 5.1 billion a day westbound and $4.5 billion eastbound.  That represents roughly 12 percent of all global trade, including 5-10 percent of global petroleum shipments. Divide $9.6 billion by 24 hours, and you get the $400 million figure.

The grounded mega barge, which is many magnitudes of order larger than the equipment being used to dig it out, underscores the fragility of the global suplpy chain, as the blocked shipments in and out of the canal have been stressing businesses the world over, which are now facing serious delays in shipments ranging from clothing to fire pits to machine parts to furniture to exercise equipment and likely many, many, many more things besides.

This is on top of the already existing supply chain disruptions brought on the by the pandemic. It is estimated that, so far, U.S. importers will see delays of at least three days for goods at minimum, more depending on how long it takes to free the ship, named the Ever Given. CNBC, citing the CEO of Sea Intelligence Consulting, said that already two out of three shipping vessels arrive late because of pandemic disruptions.