Egypt's Suez Canal Shipping Unaffected by Coronavirus

April 1, 2020

© Zdenar Adamsen / Adobe Stock
© Zdenar Adamsen / Adobe Stock

Traffic in Egypt's Suez Canal has so far been unaffected by the spread of the coronavirus, the chief of its authority said on Wednesday, citing a 4.6% increase year-on-year in the number of ships passing through.

The canal is the fastest shipping route between Europe and Asia and one of the Egyptian government's main sources of foreign currency.

The container shipping industry, a bellwether for international trade, has been blown off course by the new virus, which brought parts of China to a standstill before spreading around the world, leading container lines to re-route cargoes and reduce calls to Chinese ports.

However, the number of ships passing through the canal in the first quarter of 2020 increased by 8.4% compared with the same period a year prior, Osama Rabie said.

Suez Canal revenues increased to $458.2 million in February compared with $433.9 million during the same month last year. 

(Reporting by Momen Saeed Atallah; Writing by Nadine Awadalla; Editing by Alex Richardson)

Logistics News

US Commerce Disorganization Stalls Thousands of Export Approvals

US Commerce Disorganization Stalls Thousands of Export Approvals

Russian Oil Vessels Forced to Divert From India Under US Sanctions

Russian Oil Vessels Forced to Divert From India Under US Sanctions

Hanseatic Global Terminals Launches Latin America Expansion

Hanseatic Global Terminals Launches Latin America Expansion

Two CK Hutchison-Operated Ports Near Panama Could See State Partnerships Take Over

Two CK Hutchison-Operated Ports Near Panama Could See State Partnerships Take Over

Subscribe for Maritime Logistics Professional E‑News

Tesla ordered to pay $329 Million by Florida jury in Autopilot crash
Trump's Brazil coffee tariff of 50% is expected to change the trade and send more beans to China
FAA plans to change helicopter routes after fatal accident