Why Egypt's Suez Canal is More Important than Ever

The Suez Canal is one of the world's most important bodies of water; a portal between East and West that has been controlled by multiple countries, world powers have fought over it several times in its history, and its importance as a bedrock to the global economy cannot be overstated.

The Suez is indispensable first and foremost because of its location, it is the only place that directly connects the waters of Europe with the Arabian Sea, the Indian Ocean and the countries of the Asia-Pacific. Without the Suez, the vital trade artery would only exist in the figments of our imaginations but for traders, this would mean the cost of business would be incredibly high, a cost that would be passed down to consumers so everyday products would turn unaffordable.

With growing trade between East and West due to cheaper manufacturing in Asia and a growing middle-class in Asia with a demand for Western goods, there has been a sharp rise in the number of vessels navigating the Suez Canal. Just a little more than a week ago, a massive megaship one of the biggest ones ever built ran aground on the Egyptian canal after being caught in gusty winds and a sand storm. The 400m-long (1,300ft) Ever Given lodged itself across the vital shipping lane blocking passage of other ships. It took nearly a week before salvage crews dislodged the mammoth ship, which is about as long as the Empire State Building is tall.

The sea-level canal is the longest in the world without locks, with a normal transit time from end to end of about 13-15 hours. Furthermore cargo adding up in 2019 to 1.03 billion tons passed through Suez, that’s roughly four times more than passed through the Panama Canal.

Видео Why Egypt's Suez Canal is More Important than Ever канала Risen Africa