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Suez Canal Keeps Strategic Role For Global Maritime Trade

Suez Canal keeps strategic role for global maritime trade

Suez Canal Keeps Strategic Role For Global Maritime TradeSource: Suez Canal Authority

Suez, Egypt (PortSEurope) December 10, 2018 – The Suez Canal keeps its role as a strategic junction for global merchant maritime traffic, concentrating 9% of the global trade, or about 900 million tonnes of cargo annually, a study by Egypt’s Bank of Alexandria and the survey unit of Italian lender Intesa Sanpaolo shows.

The doubling of the Canal’s capacity in 2015 is gradually changing the world’s maritime transport sector, especially along the East-West route. In the last 16 years the traffic from South East Asia to the Mediterranean has increased by 61%, according to the study, named “The Suez Canal after the expansion: Analysis of the traffic, competitiveness indicators, the challenges of the Belt and Road Initiative and the role of the Free Zone”.

“The Suez Canal is not only a strategic route but also represents a model of a port system that integrates areas dedicated to industrial manufacturing and investments in technology. It is an example which we can use to change the methodologies and strategies for our Special Economic Zones and make our port system more competitive,” the director of Intesa Sanpaolo’s survey unit, Massimo Deandreis, said.

Container ships are the most frequent users of the Suez Canal (5,568 out of 17,550). As a result of the enlargement of the infrastructure, in 2017 the average size of container ships that crossed it grew by 21% compared to 2014.

Source: Messaggero Marittimo

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