100% of Asia-Europe cargo ships transit Suez Canal

About 100% of Asian-European cargo ships transit Suez Canal, Head of the Suez Canal Authority Mohab Mamish asserted on Sunday.
Speaking on the occasion of the second anniversary of the new Suez Canal inauguration, Mamish said the waterway’s share of the cargo trade between the East Coast of the United States and Southeast Asia increased to hit 52% in 2016 compared to 25% in 2006. 
The canal’s revenues from March to July 2017 reached USD 2.167 billions against USD 2.105 billions in the same period of 2016, an increase of 3%, he stressed.
Also, the number of ships that crossed the waterway from March to July 2017 stood at 7,294 vessels versus 7,021 ships in the same period of 2016, an increase of 3.9%, Mamish noted.
The continuous development in the field of maritime transport and the remarkable recovery in the world trade movement over the past few years, especially with the emergence of the latest generation of giant container ships was the motive behind establishing a new canal spanning to 72 kilometers, Mamish underlined.
The establishment of the new Suez Canal contributed to raising the number of ships to hit 97 ones a day, Mamish confirmed. 
This increase in the number of cargo vessels helped the new Suez Canal to maintain its status as one of the most important waterways in light of the world’s economic challenges in 2015 and 2016, including the slowdown in the world trade’s growth rates and the decrease in freight rates, Mamish added. 
The new Suez Canal contributed also to shortening the waiting and transit time for the south-bound vessels by 7 hours, Mamish said.

Source: Mena