Suez Canal Income May Drop Due to Piracy

Wednesday, November 26, 2008

A Nov. 25 report from the Associated Press said that the Suez Canal, a shortcut between East and West for nearly 140 years, is facing an enormous challenge, as the Somali piracy prompts major shipping companies to seek another route. Egypt, which is heavily dependent on the fees it charges ships to go through the Canal, has expressed concern over a possible drop in income.

(Source: Associated Press)

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