Egypt has all through the 20th and 21st century acted as the bridge between Europe and Asia thereby enabling global trade and growth, and this is set to continue with the expansion of the Suez canal.
From 2004 to 2014 container volumes transported via the Suez Canal grew around 70 per cent and a new expansion confirms the Suez Canal Authority’s continuous commitment to accommodating growth in trade.
Maersk Group representative and CEO of Maersk Drilling, Claus Hemmingsen, participated in the official opening of the Suez Canal last week, along with COO of Maersk Line, Søren Toft.
“The Suez Canal is a key corridor on the East/West trade. Maersk has used the corridor for more than 90 years and we welcome the easier transit and reduced transit times that the new expansion will bring,” said Hemmingsen. “The extension will enable larger vessels to transit, benefitting not only the shipping companies, but also our partners and world trade as a whole."
Prior to the extension, the southbound transit took 18 hours and the northbound took 11 hours. After today’s opening of the extension, both ways will only take 11 hours. With the current expansion the next generation of vessels should also be able to transit safely and without delay.