Suez Canal: Egypt Tests 10 km Extension to Enhance Navigation Safety
Egypt has tested a new 10-kilometer extension of the Suez Canal designed to improve navigation safety and reduce disruptive currents, announced the Suez Canal Authority (SCA). This move comes three years after the Ever Given container ship blockage, which halted global trade for a week.
On Saturday, two ships successfully passed through the extended section. SCA Chairman Admiral Ossama Rabie stated that the development in the canal’s southern zone « will enhance navigation safety and mitigate the impact of water and air currents on transiting ships. »
The canal has faced challenges such as ship groundings caused by strong winds and sandstorms. The infamous 2021 Ever Given incident, where the massive container ship was lodged diagonally across the canal, resulted in significant trade delays and billions of dollars in losses.
The new extension is expected to increase the canal’s daily capacity by six to eight ships, according to Rabie, and will open once updated navigation charts are released.
An $8 Billion Expansion Project
In 2015, Egypt launched an $8 billion canal expansion initiative, followed by multiple development projects. The Suez Canal, a vital source of foreign currency for Egypt, plays a crucial role in global trade, facilitating around 10% of maritime commerce.
However, canal revenues have been reduced by up to 70%, according to the International Monetary Fund, due to attacks by Yemen’s Houthi rebels on ships they allege are linked to Israel in the Red Sea and Gulf of Aden. The Houthis claim these actions are in « solidarity » with Palestinians in Gaza. These attacks have forced some shipping companies to seek alternative routes, further challenging the canal’s economic significance.
Source: lefigaro
