Egypt continues to expand the Suez Canal. The route through the Bitter Lake has been extended by 10 km, creating space for six to eight more ships per day.
According to the Suez Canal Authority (SCA), the canal will reach a total length of 82 km as soon as the expansion work in the Small Bitter Lakes section is completed. SCA Managing Director Ossama Rabiee announced that regular operations will start as soon as the navigation charts are updated.
The extension from 122 km to 132 km should increase cargo volumes and speed up ship movement in both directions. In the future, the important passage between the Red Sea and the Mediterranean, between 132 km and 162 km, could be expanded to allow larger ships to pass.
Egypt is investing in the economic slump on the canal. The detour of most ships around the Cape of Good Hope due to the Houthi attacks in the Red Sea caused revenues to plummet by 60%. The total financial loss is estimated at US$7bn.
