Collect
Check out my collection
0
Useful +1
The Suez Canal, also translated as the Suez Canal, was built in 1869 and opened to navigation
Sea level
The waterway, in
Egypt
Cut through
Suez isthmus
, communication
Mediterranean
with
Red Sea
, available from Europe to
The Indian Ocean
Wasai
Pacific
The nearest route to the nearby land. It is one of the most frequently used shipping routes in the world and the boundary between Asia and Africa
Asia
with
Africa
,
Europe
The main passageway for people to come and go.
Canal north
Port Said
South to Suez, north of Port Said into the Mediterranean Sea
Suez
To the south. The completion of the Suez Canal made the Great Peninsula of Africa become the African continent, Egypt across Asia and Africa, Southwest Asia, East Africa and southern Europe more busy trade.
The dredging of the new Suez Canal was officially completed on July 29, 2015, and officially opened on August 6, 2015.
[1]
On March 23, 2021, a Panama-flagged heavy cargo ship ran aground in the new channel of the Suez Canal, causing congestion in the waterway. Egypt's Suez Canal Authority said Monday it has temporarily suspended traffic on the waterway.
[8]
On March 29, local time, Egyptian President Abdel Fattah al-Sisi announced on the social platform that the country has ended the crisis caused by the stranded cargo ship "Long Gift" in the Suez Canal.
[11]
A recent study by Allianz, a German insurance company, suggested that the closure of the Suez Canal as a result of the stranding could cost global trade between $6 billion and $10 billion a day
[14]
.
On November 4, 2021 local time, Rabieh, director of the Suez Canal Authority in Egypt, said that the Canal Authority decided to increase the fees for ships passing through the Suez Canal in 2022 compared with 2021
6%
[17]
.
- Chinese name
- Suez Canal
- Foreign name
- the Suez Canal
- alias
- The Suez Canal
- Geographical position
-
North of Red Sea
West side of Sinai Peninsula, Egypt - Flow area
- Egypt
- Administrative category
- International waterway
- Connecting sea area
- Red Sea, Mediterranean Sea
- Navigation time
- November 17, 1869
- Date of construction
- April 25, 1859
- operator
- Suez Canal Authority
- New shipping lanes open
- August 6, 2015
- New channel cost
- $8.2 billion
- New channel action
- Achieve two-way traffic
The Suez Canal is the boundary between Asia and Africa and the most direct water link between Asia and Africa and Europe (see location map). To the west is the low-lying delta of the Nile, and to the east is the rugged and arid Sinai Peninsula. Before the construction of the canal, the only significant settlement in the adjacent area was the city of Suez. Most of the other towns along the coast developed gradually after the canal was built.
[2]
Topographically, Suez is not the same, with three shallow, water-filled depressions: Lake Manzala and Lake Timsach and Lake Bitter, which in spite of their size form a continuous body of water. The Suez Canal runs through the Isthmus of Suez, connecting the Mediterranean Sea with the Red Sea and the Indian Ocean. The isthmus is composed of Marine sediments, coarse sand and gravel deposited during earlier periods of rainfall, alluvial soil from the Nile (especially in the north), and wind-blown sand. Digging canals at the isthmus to communicate with the ocean or sea can save sea voyage.
The Suez Canal is an open channel without gates, which is basically straight throughout, but also has eight main bends. The canal runs from north to south through four lakes: Lake Manzala, Lake Timsah,
Great Bitter Lake
(Great Bitter Lake, Little Bitter Lake). Both ends connect the northern Mediterranean coast
Port Said
South and south
Red Sea
Side of the city of Suez.
From route buoy to Port Said Lighthouse: 19.5 km; From waiting area to South entrance: 8.5 km; Port Said to Ismailia: 78.5 km; Ismailia to Tawfik Port: 83.75 km; Length of acceleration zone: 78.00 km.
Width of water surface (N/S) : 345-280 m; Width between the buoys (North/South) : 215-195 m; Canal depth: 22.5 m; Maximum ship draft allowance: 18.8976 m; Cross area: 4800-4350 square meters; Maximum tonnage: 210,000 tons; Full tanker speed limit: 13 km/h; Speed limit for cargo ships: 14 km/h.
Digging into history can go as far
12th Dynasty of Egypt
,
Pharaoh
Sinussert III
Senusret III, whose name is "Senusret III"
Suez
In order to carry out direct trade by land-moving punts, an "east-west" line was ordered excavated
Canal
, connect
Red Sea
with
The Nile
. Some evidence suggests that the canal lasted until at least the 13th century BC
Ramses II
Period, subsequent
Canal
It was abandoned.
According to Greek historians
Herodotus
According to The Histories of Herodotus, Necho II began to re-excavate it around 600 BC, but did not complete it.
The Suez Canal was built around 250 BC
Ptolemy II
Regain. It was continuously improved, destroyed, and rebuilt over the next thousand years, until finally in the 8th century
Arab Empire
The Abbasid Dynasty
Caliph of
Mansour
(al-Mansur) abandoned.
Subsequently, the Suez Canal was excavated and opened intermittently, respectively, in 117 BC during the Roman period
Trajan
King and 640 AD
Umar ibn Khattab
The period was opened twice for long periods.
The isthmus was first explored during the French occupation of Egypt (1798-1801).
Napoleon
I studied the remains of the ancient canal.
Late 18th century
Napoleon Bonaparte
occupy
Egypt
Time plan establishment
Canal
communication
Mediterranean
with
Red Sea
. But because
France
People's error of the results of the calculation
Red Sea
Sea level ratio
Mediterranean
It was high, which meant that building a lockless canal was impossible, and then
Napoleon
Abandoned the plan and left Egypt in a confrontation with British forces.
France in
Napoleon
After failure, rebuild
France
Second colonial Empire, because in
America
the
colony
Lose to
Britain
, so
France
Focus on eastward development, opening the Suez Canal
France
It's much more significant.
In 1854 and 1856,
France
Stationed in Egypt
consul
Ferdinand de Lesseib
The Viscount (Ferdinand Marie de Lesseps, 1805-1894) was awarded
Ottoman Empire
It was chartered by the Governor of Egypt, Said Pasha. Pasha authorized Reseb to form a company and build a maritime canal open to ships of all nations, according to a plan drawn up by the Austrian engineer Alois Negrelli.
[13]
Through the lease of the land, the company can operate the canal for 99 years from the opening of the canal.
On 15 December 1858, the Compagnie Universelle du Canal Maritime de Suez (Suez Canal Company) was established. Forced deprivation
Egyptians
Digging the canal across the desert took nearly 11 years, and some coolies were even whipped. The project overcame many technical, political and financial problems. It ended up costing £18.6 million, more than double the original budget.
The canal was opened to traffic on November 17, 1869, which is designated as the canal's opening Day.
The canal was studied again in 1834 and 1846. Ferdinandde Lesseps received a charter from the governor of Egypt, Said Pasha, to build a canal. Construction began in 1859 and took ten years to complete. The initial plan is to go from
delta
A small Canal and a southern branch (now called the As-Suwaysal-Hulwah canal, originally called the Sweet Water Canal) were dug along the Tumelat River to Suez, One northern section (the Al-Abbasiyah Canal) to Port Said. The canal, which provided drinking water for other arid regions, was completed in 1863.
In 1859, the canal company hired thousands of Egyptian migrant workers at very low wages and forced them to work extremely hard in the tropical desert area of the Suez Isthmus. The water at the site was very short of water, and a large number of migrant workers died of thirst. The food provided by the company was poor and small, and a portion of the meal was not enough to satisfy the hunger of even a child, and most migrant workers were often in a state of semi-starvation. Sanitary conditions were terrible,
bronchitis
Diseases such as hepatitis, lung disease and dysentery were extremely common, especially the epidemic of plague, which took the lives of a large number of migrant workers.
In 1863, typhoid swept through the construction site, and many migrant workers died suddenly.
In 1865, an outbreak of cholera killed so many workers that there was no one to take the sick to the first aid station, and no one to dispose of the bodies of the dead workers on the site. The construction of the Suez Canal in Egypt took the lives of 120,000 migrant workers, at an average rate of 738.5 deaths per kilometer.
After the completion of the first phase of the Suez Canal expansion project in December 1980, the canal has a total length of 195 kilometers, a width of 365 meters, a depth of 16.16 meters, and a double track of 68 kilometers, and can be navigable with 150,000 tons of empty and 370,000 tons of full load
Oil tanker
It is one of the important canals connecting the oceans in the world.
In 1875, foreign debt forced
Pasha
[Said Pasha's successor] sold a stake in the canal to the British.
In 1882, British cavalry moved into the canal.
In 1888,
Constantinople
The General Assembly declared that the canal was
British Empire
protected
Neutral zone
The canal was opened to ships of all nations in times of peace and war. It also stipulated that there should be no hostilities in the canal's waters and that fortifications should not be built along its shores.
In 1936, Britain signed a treaty with Egypt.
Anglo-egyptian treaty
Britain insisted on retaining control of the Suez Canal.
In February 1941, Rommel, commander of the German Expeditionary Force in North Africa, launched an offensive in Egypt to seize the Suez Canal. And tried to throw a bomb into the Suez Canal. The famous British magician Jasper Maskeline became a lieutenant in the British Army as a special agent, and led the use of searchlights and tin reflectors to cause light screens to interfere with the night vision of German pilots, supplemented by anti-aircraft fire during the day, making the bombing accuracy greatly reduced.
[25]
Protected the Suez Canal.
In 1951, Egypt overturned the 1936 ruling
Anglo-egyptian treaty
The new government demanded the withdrawal of British troops.
In 1954, Britain agreed to give up.
In June 1956, the last British troops left Egypt.
On July 26, 1956, Egyptian President Gamal Abdel Nasser nationalized the Suez Canal.
On October 29, 1956, the Israeli army invaded Egypt for a week
Suez Canal War
(also known as the Second Middle East War). War damage and the effects of sunken ships caused the canal to be closed until it was cleared with United Nations assistance in April 1957.
[3]
Suez Canal
On May 11, 2021, according to the Egyptian "Al-Ahram" reported that Egyptian President Abdel Fattah al-Sisi on the same day approved the Suez Canal Authority submitted a widening plan for the southern section of the Suez Canal, which is expected to be completed within two years. The grounding of cargo ships in March highlighted the importance of widening the southern section of the Suez Canal. The plan mainly covers about 30 kilometers of the Suez Canal section between Suez City and the Great Bitter Lake, which will be widened by 40 meters and the maximum depth will be deepened from about 20 meters to about 22 meters. When completed, the project will enable the southern section of the Suez Canal to have two-way traffic capacity and improve the canal's traffic efficiency
[16]
.
On January 16, 2022, Usama Rabieh, chairman of Egypt's Suez Canal Authority, said that the project to widen the southern section of the Suez Canal will take two years and is expected to be completed by July 2023.
[20]
The canal was opened in 1870. Initially, a ship had to dock in the bay for two-way traffic, but after 1947 an escort system was adopted. At first, the average passage time was 40 hours, but by 1949 it had decreased to 13 hours, but traffic increased after 1942, and by 1967 it had risen to 15 hours, even with escorts, reflecting the increase in tanker traffic at that time. Convoys leave every day, two to the south, one to the north. The southbound convoys stopped at Port Said, Al-Ballah, Lake Timsah, and Al-Kabrit, while the northbound convoys had bypass roads where they could continue without stopping. With the decrease in overall traffic and the corresponding expansion of the canal, the passage time has been approximately 14 hours since 1975.
After carrying a record 984,000 passengers in 1945, passenger traffic has dwindled to negligible numbers due to competition from aircraft. The aircraft also carries small amounts of high-value cargo. Further reductions in canal traffic also stemmed from the shift of Australian trade from Europe to Japan and East Asia.
However, the movement of oil from Russia,
Southern Europe
and
Algeria
Shipments of refineries mainly to India are continuing; There was also an increase in the movement of dry goods, including grains, ores and metals.
Examples of international use of the canal during the war include:
The Italian invasion of Ethiopia in 1935-36 allowed its ships to pass through.
In principle, the first sum
World War II
During this period, the canal was open to all belligerents, but the military superiority of the Central Powers prevented Germany and its Allies from using the canal effectively.
1949 Israel and its
Arab country
After the armistice, Egypt denied Israel access to the canal and to all ships trading with Israel.
The first of the two closures occurred during the Suez Crisis of 1956-1957, after Israeli forces attacked Egyptian forces and French and British forces occupied parts of the canal area.
Suez Canal
The Suez Canal is of great value in Egypt's own economic development. According to statistics, about 18,000 ships from more than 100 countries and regions in the world pass through the canal every year. 70% of the oil exported from the Middle East to Western Europe is transported through the Suez Canal, and the goods transported through the Suez Canal account for 14% of the world's seaborne trade every year. In the artificial canals suitable for maritime transport in the world, the number of countries using them, the number of passing ships, and the volume of freight volume, the Suez Canal ranks first.
The Suez Canal is the "lifeline" and "cash cow" of the Egyptian economy. Passing ship tolls have been consistent for many years
Remittances sent by overseas Chinese
Tourism, oil and tourism have become the four pillars of Egypt's foreign exchange earnings. The canal currently brings in $2 million a day in foreign currency for the Egyptian government. Ships passing through the canal pay tolls according to tonnage, and also pay fees such as pilot fees and navigational marks. Revenue from the canal reached $1.9 billion in 1993 and exceeded $2 billion in 1994.
On October 1, 1981, the Suez Canal officially launched the electronic control system, thus marking a new modern era of canal management, which not only improved the safety of shipping, but also nearly doubled the canal's transit capacity. At present, more than 100 ships pass through the canal every day.
In order to meet the needs of the growing development of international shipping and earn more foreign exchange, the first phase of the Suez Canal expansion project has been started in 1994, this phase of the project to widen the canal from 265 meters to 415 meters, the draft depth to 23.8 meters, so that 250,000 tons of oil tankers can pass smoothly. The project is expected to cost $1 billion, with 75 percent of the cost paid by Egypt and 25 percent by Japan,
Belgium
Undertake. It can be expected that after the completion of the second phase of the canal expansion project, it will play a greater role in the development of international shipping and the Egyptian national economy.
In order to facilitate the canal on both sides of the traffic and direction
Sinai Peninsula
For water supply, the Egyptian government built a 5,912 meter long building in 1980
The Ahmed Hamdi Tunnel
It is an important link between Asia and Africa. At the bottom of the tunnel lies a water pipeline, which carries 34,000 cubic meters of water every day
The Nile
The water is transported to the arid Sinai Peninsula to irrigate 14,000 hectares of land, and the road inside the tunnel is 7.5 meters wide and can pass 2,000 vehicles per hour.
[3]
More than 100 years ago, Marx called the Suez Canal "the great channel of the East." After the completion of the Suez Canal, it greatly shortened the voyage from Asian ports to Europe, which can be shortened by more than 8000-10,000 kilometers. It connects the Red Sea with the Mediterranean Sea, connects the Atlantic Ocean with the Indian Ocean and the Pacific Ocean via the Mediterranean Sea and the Suez Canal, and is an international shipping waterway of great economic and strategic significance.
The canal allowed for two-way north-south water traffic between Europe and Asia without having to go around Cape Storm at the southern tip of Africa.
Cape of Good Hope
), greatly saving the voyage. From the Port of London in England or France
Port of Marseille
To India
Port of Mumbai
A voyage through the Suez Canal can shorten the total voyage by 43% and 56%, respectively, than around the Cape of Good Hope.
Saudi Arabia
Port of Jeddah
The distance around the Cape of Good Hope and the Port of Constanta on the Black Sea is 11,771 miles, while the distance via the Suez Canal is only 1,698 miles, a savings of 86%. Before the opening of the Suez Canal, goods were sometimes transported between the Mediterranean and the Red Sea by way of land transport from ships. Compared with the detour to the Cape of Good Hope in Africa; Through the lowest part
Suez isthmus
Connecting the Mediterranean Sea and the Red Sea. Along the way, large and small bitter lakes and other dry lakes and depressions are used as waterways. It is 161 km long from Port Said to Tawfik and extends into
Mediterranean
,
Red Sea
The length of the river is 173 km. The river surface is 160-200 meters wide, and the river bottom is 60-100 meters wide. It can pass a seaway with a draft of 11.6 meters and a full load of 65,000 tons or an empty load of 150,000 tons. The average transit time is 15 hours.
After the opening of the canal, the voyage between Western Europe and the Indian Ocean is 5,500-8,000 kilometers shorter than the detour through the Cape of Good Hope in Africa. The canal is located at the crossroads of Europe, Asia and Africa and has an important strategic position. The number of ships and the volume of freight through the international canal are ranked first, the cargo of oil to the north and metal and its products to the south are the most important. After the completion of the first phase of the project in 1980, the river was widened to 365 m, enabling vessels with a draft of 16 m and a full load of 150,000 tons or an empty load of 350,000 tons to pass in both directions.
The main shipments to the north are
Crude oil
And petroleum products, coal, ores and metals, processed metals, timber, oilseeds and oilseed cakes, and cereals. There are shipments to the south
cement
Fertilizer, metal and grain.
Suez Canal
On July 4, 2022, Egypt's Suez Canal Authority announced that in the fiscal year ending June 30, 2022, the Suez Canal "toll" revenue reached 7 billion US dollars, setting a new annual revenue record. In the 2021-2022 fiscal year, Suez Canal revenue increased by 20.7% compared to the previous fiscal year, and this is the fifth consecutive year of increase. The rise in annual revenue is due to an increase in the number of ships and goods passing through the canal. Revenue from the Suez Canal is one of the main sources of Egypt's national fiscal revenue and foreign exchange reserves. The Suez Canal Authority has already raised ship tolls twice in 2022.
[22]
On September 17, 2022, Egypt's Suez Canal Authority issued a statement saying that it would raise ship tolls on the Suez Canal in January 2023.
[23]
On December 22, 2022, the Director of the Suez Canal Authority, Rabieh, said that the number of ships passing through the Suez Canal in 2022 is expected to exceed 23,000, and the volume of cargo passing through is more than 1.4 billion tons. At the same time, the Suez Canal revenue will also set a new record, reaching about $8 billion.
[24]
On October 17, 2023, the Suez Canal Authority announced that from January 15, 2024, transit fees for crude oil carriers, liquefied petroleum gas carriers, liquefied natural gas carriers, chemical carriers and other liquid bulk carriers will rise to 15%; Rates for dry bulk carriers, cargo ships, ro-ro vessels and other vessels will rise by 5%; Container ships sailing directly out of ports in "Northwest Europe" and directly to ports in the "Far East" are exempt from the fee increase.
[26]
On March 12, 2024, the Suez Canal Authority announced its decision to impose an additional fee of $5,000 on vessels that refuse or are unable to accept mooring services from May 1. The Suez Canal Authority also announced new charges for mooring and lighting services, under which a total of $3,500 will be charged per vessel for fixed mooring and lighting services. In the event that the passing vessel requires lighting services or the lighting does not comply with navigation regulations, the lighting services rate in the preceding paragraph will be increased by $1,000 for a total of $4,500, including mooring and lighting services.
[27]
On August 5, 2014, the Egyptian government announced that it would dig a new 72-kilometer canal on the east side of the Suez Canal to expand shipping capacity and boost the country's economic recovery.
[4]
Egypt's Suez Canal Authority said the new canal project will cut 35 kilometers of new channel alone, and the remaining 37 kilometers will be achieved by widening the old canal and connecting it with the new channel. The massive engineering project is expected to cost $4 billion. Mamish also said that in order to guarantee Egypt's absolute control of the new canal, the project will not bring in foreign investment.
[4]
President Abdel Fattah al-Sisi, who launched his first major engineering project after taking office, is confident that the construction of the new canal will be completed by the middle of 2015, 35 kilometers of new channel, much shorter than the three years previously announced by the Egyptian government.
[4]
The Suez Canal is located in Egypt, from Port Said in the north to Suez City in the south. It is an important international shipping route connecting the Mediterranean Sea and the Red Sea, and connecting the three continents of Europe, Asia and Africa, with important strategic and economic value. The Suez Canal was invested by the French in 1859 and officially opened on November 17, 1869, which has a history of 150 years. In August 2015, Egypt completed the new Suez Canal project, which included 35 km of newly cut channels and 37 km of widening and deepening of existing channels. The opening of the new Suez Canal greatly increased the canal's capacity.
[5]
Egypt's Suez Canal Authority Chairman Mohab Mamish announced on July 13 that the 72-kilometre new Suez Canal will be officially opened on August 6.
[1]
The excavation and dredging of the new canal is now 85 percent complete and will be completed by July 15, he said. When the new canal opens, it is expected that the time for ships to travel through the canal will be reduced from 22 hours to 11 hours.
[1]
According to reports, the construction of the new Suez Canal in Egypt began in August 2014, including 35 kilometers of newly excavated channel and 37 kilometers of existing channel widening and deepening.
[1]
The Suez Canal is one of the world's most important shipping lanes and one of Egypt's main sources of foreign exchange, generating an average of more than $5 billion a year for Egypt. With the opening of the new canal, Egypt's annual canal revenue is expected to reach about $15 billion by 2023.
[1]
In addition, the Egyptian government also plans to build the "Suez Canal Corridor Economic Belt" along the Suez Canal in the future, including the construction of roads, airports, ports and other infrastructure as well as a number of high-tech engineering projects, is expected to be completed after the economic belt will create up to 100 billion US dollars a year for Egypt, accounting for about one-third of the country's total economy.
[1]
On January 2, 2022, the chairman of Egypt's Suez Canal Authority, Rabieh, said that the canal's revenue in 2021 reached a record high of $6.3 billion.
[19]
On June 14, 2022 (local time), Egypt's Suez Canal Authority issued a statement announcing the reduction of tolls generated by some ships sailing through the canal.
[21]
-
Fifteen freighters were stranded together for eight years
In June 1967, Israel advanced the front to the eastern bank of the Suez Canal. In order to prevent Israeli troops from crossing and using the canal, Egypt blew up Bridges over the canal, sank sunken ships and laid mines in the waterway. Even so, Egypt was unable to hold off the Israeli attack, but the 15 merchant ships that were normally sailing through the canal were forced to anchor. These ships carry a variety of goods, including wheat, eggs, fruit and even pigs from Australia. The crew had to get together and wait out the war, but after the war, tensions remained high on both sides of the Suez Canal. In 1975, thanks to the efforts of the international community, the Suez Canal was finally reopened after being closed for eight years. The 15 freighters were finally able to sail again, but by this time, most had lost power and had to be towed away from the canal by tugboats.
[7]
-
The container ship Al-Muraykh ran aground
On 26 November 2020, the Al-Muraykh, a very large container ship owned by shipping company Hapag-Lloyd, ran aground in the Suez Canal, blocking other southbound ships for more than five hours.
[7]
-
The very large container ship "Long Given" (Ever Given) ran aground, causing traffic congestion in both directions of the canal
The Long Ship is stuck in the Suez Canal
Sal Mercogliano, a US maritime historian, said it was "the largest ship ever to run aground in the Suez Canal", was rare and could have "a huge impact on global trade".
[7]
The Long Ship is stuck in the Suez Canal
On March 26, CNN quoted two Pentagon officials as saying that after the Egyptian government accepted the US proposal, the US Navy in the Middle East will send an expert assessment team to the Suez Canal to advise the canal's governing body. Egypt's Suez Canal Authority (SCA) thanked the US for the gesture, saying in a statement on the 26th that it "values the assistance of the United States."
On March 27, the Ever Given had been trapped for a fifth day. The British "Independent" quoted the "Lloyd's List Intelligence" reported that the number of ships blocked on the Suez Canal has reached 248.
[10]
On March 29, local time, Egyptian President Abdel Fattah al-Sisi announced on the social platform that the country has ended the crisis caused by the stranded cargo ship "Long Gift" in the Suez Canal.
[11]
On the evening of March 29, according to sources at the Suez Canal Authority, the "Long Blessing" once again blocked the Suez Canal.
[12]
On March 29, local time, nearly six days after being stranded, the 220,000-ton ship "Ever Given" resumed sailing under the tow of a tugboat.
[14]
Global trade faces huge losses
The Suez Canal connects the Red Sea with the Mediterranean Sea and is an important international shipping lane connecting Europe, Asia and Africa. The grounding of the "Long Gift" for six days means huge losses for canal management, ships waiting for navigation, retailers waiting for goods, etc. :
The "great blockage" of the Suez Canal has cost the Egyptian government $12 million to $14 million in tolls per day.
For supertankers parked at the entrance of the Suez Canal, waiting for customs clearance, each ship pays $30,000 to $80,000 a day to berth.
At least 20 of the boats stranded at sea were loaded with livestock and carrying thousands of sheep and cattle. If the feed runs out and the ship cannot dock, the animals are likely to face starvation, dehydration and injury.
After the "Long" was successfully rescued, the responsible party needs to pay the rescue fee to the Dutch Smit Salvage company responsible for the rescue, which is estimated to be tens of millions of dollars.
When the Suez Canal was blocked, dozens of ships took alternative routes around Africa's Cape of Good Hope. The alternative route would take about two weeks longer and cost hundreds of thousands of dollars in fuel and other costs than going through the Suez Canal.
According to a recent study by German insurer Allianz, the Suez Canal blockade caused by the stranding could cost global trade between $6 billion and $10 billion a day.
The end of congestion may usher in a lengthy "claims drama.
The large number of insurance claims caused by shipping delays has put financial institutions involved in Marine insurance under pressure, which could lead to turmoil in the reinsurance sector. From rescue costs to the cost of delayed cargo, who will pay for the huge losses caused by the Suez Canal "jam"? Chang Ci, the operator of China Taiwan Evergreen Shipping: compensation is the responsibility of the shipowner; "Changi" ship owner Japan Masei Steamship Company: bear some responsibility; Suez Canal Authority: no claim pending the outcome of the investigation;
According to US media, a game of deniability will play out: the owners of the cargoes of the Changi and other vessels will seek compensation from their respective insurance companies, which will claim compensation from the owner of the Changi, Japan's Masei Steamship company, while the owner will seek protection from its insurance company.
[14]
-
An Italian tanker has suffered a technical failure in the Suez Canal
On 6 April 2021, the Italian oil tanker Rumford was sailing from Hungary to the Suez Canal due to a "technical fault" when it stopped 133 km from the canal. A source said that the ship's failure in the middle of the Suez Canal "did not affect its navigation" and that a tugboat would transport it to the Great Bitter Lake for troubleshooting.
[15]
December 30, 2021,
A clogged canal exposes the fragility of the world economy
(A cargo ship ran aground in Egypt's Suez Canal blocking the waterway, once blocking about 12% of global trade flows) was selected as the top 10 international news of 2021 by Xinhua News Agency.
[18]
