Egypt considers expanding Suez Canal to increase shipping volumes and prevent blockages amid revenue decline.
Egypt is considering further expansions of the Suez Canal, which could increase shipping volumes and prevent traffic blockages, according to the canal's head. The comments come as the canal sees a decline in revenue due to shipping companies diverting away from the waterway due to attacks by Houthi militants in Yemen against ships in the Red Sea. The new expansions would build on current work to extend the second channel by 10 kilometers and deepen and widen a section of the canal, expedited after the Ever Given container ship ran aground in March 2021, halting traffic for six days. The canal is a vital source of foreign currency for Egypt.
March 04, 2024
17 Articles