Egypt tests new Suez Canal expansion
Egypt has tested a new expansion of the Suez Canal aimed at improving navigation by reducing water and air currents in the vital global trade corridor, the canal authority said.
The new 10-kilometer extension was tested on Saturday by two ships, the source said.
The Chairman of the Suez Canal Authority, Lieutenant General Osama Rabie, said, “The development project of the southern sector in its two parts is a major qualitative leap that will contribute to enhancing navigational safety in the canal and reducing the effects of water and air currents on passing ships”.
Some ships ran aground while crossing the canal due to strong winds and sandstorms.
In 2021, the giant container ship Ever Given became stuck diagonally in the canal, temporarily disrupting navigation and hampering trade for nearly a week.
The incident also caused billions of dollars in lost revenue due to shipping delays.
The new expansion is also expected to increase the canal’s capacity from six to eight ships per day, and will open after the publication of new navigational charts.
In 2015, Egypt implemented an $8 billion expansion project, followed by several waterway development projects.
The canal’s revenues are a major source of foreign currency for Egypt, which is mired in the worst economic crisis in its history.
But revenues have fallen by as much as 70%, according to the International Monetary Fund, due to attacks by Yemen’s Houthis on ships they say are linked to Israel in the Red Sea and the Gulf of Aden, in solidarity with Palestinians in the Gaza Strip, they say.
