Egypt Inaugurates New Suez Shipping Lane

A new shipping lane in the Suez Canal, which is parallel to Egypt’s Port Said and allows ships to sail in both directions to effectively lower sailing times, has been inaugurated by the Suez Canal Authority on Wednesday February 24, 2016, according to the Cairo Post.

Mohab Mamish, Chairperson for the Suez Canal Authority recently said in a press conference that Abdel Fatah al-Sisi, President of Egypt said the construction of the new lane was completed in three months after construction work on the shipping lane was ordered to be accelerated.

Mamish added that container traffic along the new lane is anticipated to increase to four million from 3.4 million in the coming year.

The Suez Canal was recently fronted with research which implied that it could be affected by ships diverting to the southern African Cape of Good Hope route.

However, this could be offset as a result of the lifting of trade sanctions on Iran, enabling higher quantities of oil to be transported via the Suez Canal.