Suez Canal Research Paper

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• What is the Suez canal?
The Suez Canal is considered to be the shortest link between the east and the west due to its unique geographic location; it is an important international navigation canal linking between the Mediterranean sea at Port said and the red sea at Suez. The idea of linking the Mediterranean sea with the red sea by a canal dates back to 40 centuries. It is considered to be the first artificial canal to be used in Travel and Trade.
• History of Suez Canal
• The first canals that linked various waterways in this area were built in ancient Egypt, as far back as 4,000 years ago. However, scholars debate whether the canals dug by the pharaohs, and Romans actually linked the Red Sea to the Mediterranean Sea. In more modern times,
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In terms of any ship, the time reduction of 12 hours, due to New Suez
Canal, would lead to an estimated savings of:
• 10,499 € for each ship
• 12,004 € for each containership
If we consider that, in 2014,
• 17,148 ships passed the Canal, of which 6,129 were containerships::
Total average excepted saving will be 180 mln euro be:
• South East Asia € 61 million
• North West Europe, U.K. € 49.4 million
• Arabian Gulf € 48.4 million
• The canal handles about 7.5% of global trade and is primarily used by Europe and Asia, since the canal facilitates travel over the shortest distance between the two regions.
• The construction of the Suez had essential impacts on global trade, mainly over two factors. The first and most obvious concerns the reduction of travel distances between economic regions. The second relates to the introduction of the steamship during the same time period which was able to use more direct routes at a faster and consistent speed, compounding the gains from shorter travel

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