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5 days ago · As of end-March 2024, the volume of traffic through the strategic Suez Canal and Bab El-Mandeb Strait has dropped by half, while the alternative route via the Cape of Good Hope route has witnessed a 100% increase in navigation (Figure 2).
4 days ago · “About 30% of the world’s global container traffic uses the Suez Canal with the vast majority of the shipments coming from southeast Asia to Europe. Unfortunately, alternatives for these shipments involve long detours, possibly through equally risky routes.”
4 days ago · The agency said the attacks have slashed Suez Canal trade volume by 42 percent since November. Extra days In order to avoid attacks, vessels go via the Cape of Good Hope in South Africa but this route adds 14 days to Asia-Europe voyages, according to S&P Global Commodity Insights data.
1 day ago · According to the United Nations, the number of container ships transiting the Suez Canal has dropped by 67% year-over-year in 2023. Meanwhile, trade volumes along the route decreased by 43% in the first two months of 2024 compared to the same period last year.
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5 days ago · The Red Sea and its Suez Canal previously accounted for about a tenth of global seaborne trade, and provided Qatar with the shortest route to Europe, which has embraced LNG since it lost pipeline ...
4 days ago · Russia, China and commercial shipping interests are among those with high hopes that the Northern Sea Route could become a melt-season alternative to Egypt's Suez Canal, trim weeks off transit times and slash fuel costs for vessels shuttling between ports in Europe and Asia – and the Americas.
3 days ago · With its connection to the Mediterranean Sea via the Suez Canal, it is one of the most heavily traveled waterways in the world, carrying maritime traffic between Europe and Asia. Its name is derived from the colour changes observed in its waters.
