This extension, tested by Egypt, aims to improve navigation safety, three years after the blockage of the container ship Ever Given which interrupted world trade for a week.
Egypt has tested a new extension of the Suez Canal designed to improve navigation by reducing disruptive currents on the crucial passage for global trade, the Canal Authority (SCA) announced. The ten-kilometer extension was used on Saturday by two ships, according to the same source. SCA head and Admiral Ossama Rabie said development in the southern canal area “will improve navigation safety and reduce the effects of water and air currents on passing vessels”.
Ships using the canal have sometimes run aground, mainly due to high winds and sandstorms. In 2021, the giant container ship Ever Given became wedged diagonally across the canal, blocking trade for nearly a week and causing a billion-dollar shortfall in shipping delays. The new extension is also expected to increase the canal's capacity from six to eight boats per day, Rabie added, and will be opened after the publication of new navigation charts.
An 8 billion dollar project
In 2015, Egypt undertook an eight billion dollar expansion project, followed by several waterway development projects. The Suez Canal has long been a key source of foreign currency for Cairo, which is mired in the worst economic crisis in its history. But 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 say are linked to Israel in the Red Sea and Gulf of Aden, saying they are taking action. in “solidarity” with the Palestinians of the Gaza Strip at war. Before the attacks caused companies to change routes, the Suez Canal accounted for about 10% of global maritime trade.
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