Closure of Houston Ship Channel because of ITC fire could cost $1B

HOUSTON — The Houston Ship Channel remained partially closed Wednesday morning as the costs of the closure continue to add up.

According to a logistics and transportation expert at the University of Houston, the impact of closing a portion of the Ship Channel for just a few days could cost a billion dollars.

Professor Maria Burns told the Houston Chronicle about $500 million is from the cost of delayed shipments and lost supply chain materials for companies.

Another $500 million is from indirect expenses from the impact of rerouted and cancelled shipments.

READ: Houston Ship Channel remains closed due to the ITC incident 

As the cleanup process continues, there are still pockets of oily water in Tucker Bayou near ITC, and smaller pockets in Buffalo Bayou and in the Houston Ship Channel.

So far, 33,000 barrels of oily water have been recovered from the water.

The U.S. Coast Guard monitors the Ship Channel and is expected to discuss more about plans going forward in a press conference Wednesday afternoon. 

Tune into KHOU 11 News at 4 p.m., 5 p.m., and 6 p.m. and KHOU 11 News Facebook and Twitter pages for the latest from the Coast Guard.

For complete coverage on the ITC Deer Park cleanup, visit KHOU.com/ITCFire.