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Reading: Passing of 209 ships indicates importance of new canal axis: Mamish
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Dailynewsegypt > Blog > Business > Passing of 209 ships indicates importance of new canal axis: Mamish
Business

Passing of 209 ships indicates importance of new canal axis: Mamish

Sara Aggour
Last updated: 2016/02/29 at 6:28 PM
By Sara Aggour 2 Min Read
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CBE governor said that the investment certificates are expected to collect EGP 60bn, which is enough to finance the first phase of the Suez Canal project. (AFP photo)
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A total 209 ships passed through the Suez Canal carrying 13.3m tonnes despite the accident that befell Panamanian ship New Katerina Thursday.

This is evidence of the importance of the Suez Canal Area Development, Head of the Suez Canal Authority admiral Mohab Mamish said.

The Panamanian ship, which was coming from Russia and heading to China, went off course Thursday in the 63rd km  of the canal’s Western branch. The ship was carrying a cargo of iron dust.

The launch of East Port Said harbour took place on the third day of the Suez Canal Global Conference (SCGC) 24 February. Work conducted in the port will help double the capacity of ships it can receive. “One in four ships passing through the Suez Canal used to have to unload its shipment in Port Said,” he said.

The admiral said that to head to Port Said ships had to wait between eight to 10 hours in the Suez Canal axis and that the time ships spent waiting has a high cost.  “The cost of fuel, delayed shipments, and delayed delivery of products is a burden on passing ships,” Mamish said. After the work is conducted in the port, “ships can go from the open sea to the harbour of Port Said directly”.

The construction work in East Port Said began in November 2015 and was completed after three months and 10 days.

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TAGGED: Mohab Mamish, Ships, suez canal
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