Marine Link
Friday, March 29, 2024

Suez Canal Income May Drop Due to Piracy

Maritime Activity Reports, Inc.

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)

Subscribe for
Maritime Reporter E-News

Maritime Reporter E-News is the maritime industry's largest circulation and most authoritative ENews Service, delivered to your Email five times per week