New Suez Canal
Reviewed by: Wafaa El-houseiny
Translated by: Nayira Salah Eddin
New Suez Canal
August, 6, 2020-03:30
New Suez Canal
The new Suez Canal was constructed from km 60 to km 95(Canal mark) in addition to enlarging and deepening the Great Lakes’ branches and Balah Lake with a total length of 37km ( Total length of the project 72km.)
Establishing a new parallel water canal and maximizing the utilization of the canal and its current branches came in order to achieve the largest percentage of double-direction to let ships navigate on both sides without any pauses inside the stations’ waiting areas, decreasing the transit time of passing ships, and increasing its capacity for the passage of the ship under the expected growth of the global trade volume in the future. In addition, it is closely connected to the development project in the Suez Canal region, raises the confidence in the canal to be the best shipping lane in the world, and reduces the value of thinking in any other competitive canals around the world and the region. Furthermore, it increases the degree of confidence in Egypt’s readiness to achieve development projects in the Suez Canal region. All of the above is reflected in Increasing the Egyptian National Income of hard currency pouring directly into the state treasury. Moreover, it creates several job opportunities for Egyptian youth and establishes new urban communities.
-The project also aims to increase the Egyptian National Income of hard currency.
-Achieving the greatest percentage of double-direction in the Suez Canal to reach 50 percent throughout the length of the waterway.
-Reducing the transmit time to 11 hours instead of 18 hours for the North convoy.
-Reducing waiting time for ships to three hours in worst conditions instead of (8 to 11 hours), the thing that will be reflected in decreasing the cruise cost for ship owners and increasing the valuation of the Suez Canal.
-Contributing to increasing the demand for the Canal’s use as a main global waterway and increasing the degree of its classification.
- Increasing the capacity of ships passage in the Canal to meet the expected growth of the world trade volume in the future. It is thus a very important step to the success of the development hub project in the Suez Canal and to drive the Egyptian national economy to convert Egypt into a global commercial and logistic center. The return and results of the project are to increase the capacity to 97 standard ships in 2023 instead of 49 ships in 2014 in different directions. In addition, to achieve direct unstoppable transit for 45 ships in both directions With the possibility of allowing ships to cross up to 66 feet.
-Increasing the revenue of Suez Canal to 259% in 2023 to be 13,226 billion dollars compared to the current revenue which is 5,3 billion dollars. This will lead to a direct positive impact on the Egyptian national income from the hard currency. It will also increase job opportunities for the sons of the canal’s city, Sinai, and the neighboring governorates along with creating new urban communities.
-Bolstering the competitive abilities of the Canal and making it distinguish more from the similar Canals
-Increasing the global classification of the navigation route as a result of the increase in the rates of safe navigation during the passing of the ships.
This project was implemented over 12 months (1 year) and was inaugurated in August 2015.