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The expansion intended to nearly double the capacity of the Suez Canal, from 49 to 97 ships per day. [9] At a cost of LE 59.4 billion (US$9 billion), this project was funded with interest-bearing investment certificates issued exclusively to Egyptian entities and individuals. The Suez Canal Authority officially opened the new side channel in 2016.
The current channel depth of the canal allows for a maximum of 20.1 metres (66 ft) of draft, [2] meaning that a few fully laden supertankers are too deep to fit through, and either have to unload part of their cargo to other ships ("transhipment") or to a pipeline terminal before passing through, or alternatively avoid the Suez Canal and travel around Cape Agulhas instead.
In total, 20,649 vessels transited the Suez Canal in 2021 - an increase of 10% over 2020. [7] In 2022, annual revenue stood at $8 billion in transit fees. [8] The Suez Canal set a new record with annual revenue of $9.4 billion in USD for the fiscal year that ended June 30, 2023. [9] Suez Canal monthly revenue In USD
A post shared on social media purports that Panama has doubled the fees for U.S. Warships in the Panama Canal. View on Threads Verdict: False The claim originated on a satirical social media account.
The 2015 inauguration of the New Suez Canal raised the Suezmax dimensions, and allowed larger ships. Thereby, the Cape Route became even less important, although it still is an alternative secondary route if the Suez Canal is somehow disrupted (for example, during the 2021 Suez Canal obstruction ), or to avoid paying fees for crossing the canal ...
The post Attacks on ships in the Red Sea are disrupting global trade. ... forcing traffic away from the Suez Canal and around the tip of Africa. ... it cost $15,000 to ship a container from Asia ...
English: Nautical chart of Port Said and the approaches to the Suez Canal. From surveys by Commander F.A. Reyne, and the officers of H.M. Survey Ship Endeavour, 1919, and by the Compagnie Universelle du canal Maritime de Suez to 1953.
Cruise itineraries in the Middle East are in disarray due to the unfolding tragedy in Israel and Gaza.. One leading cruise line has cancelled its entire Red Sea programme through to 17 April 2024 ...