Suez Canal, the Fastest Maritime Corridor
Egypt's Suez Canal has maintained its classification as the most important and fastest maritime shipping corridor despite the economic challenges faced by the world in 2015 and 2016, reported Xinhua quoting head of the Egyptian Suez Canal Authority Mohab Mamish as saying.
According to MANA, The revenues of the Suez Canal amounted to 2.94 billion U.S. dollars, equivalent to 52.5 billion Egyptian pounds, during the first seven months of 2017, Mamish said in a press statement.
The Egyptian official added that the canal's revenues represented an increase of 19 million dollars year on year.
He pointed out that the number of vessels crossing the Suez Canal during the period mentioned amounted to 9,949 ships, an increase of 2.1 percent year on year.
Mamish said the tonnage recorded during the first seven months of this year amounted to 585.6 million tons, an increase of 4.3 percent year on year.
Mamish said in a press statement that the number of vessels crossing the Suez Canal during the period mentioned amounted to 9,949 ships, an increase of 2.1 percent year on year.
In August of 2015, Egypt opened a new 35-kilometer waterway alongside the original 190 km Suez Canal, plus a 37-kilometer expansion and deepening of some parts of the existing one.
The new artificial waterway, which is part of a larger project to expand Suez port, ship facilities and build large industrial zones, is designed to raise Egypt's international profile, and build the nation as a major trade hub.