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Article: Suez Canal suffers crisis of confidence.
- Article from:
- The Middle East
- Article date:
- September 1, 1997
- Author:
CopyrightCOPYRIGHT 1997 IC Publications Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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As changes in international and regional maritime transport are cutting the share of Egypt's Suez Canal, the country's public-sector Suez Canal Authority (SCA) is faced with tough decisions to maintain its revenues and brush up the canal's former prestige as the main, and shortest, maritime route between East and West. EMAD MEKAY reports from Cairo.
The Suez Canal, possibly the world s best known sea route, which currently carries 5.9% of the world's seaborne trade is beset by brutal competition from many directions: new oil pipelines, big tankers and container ships transporting oil around the Cape of Good Hope, alternative land routes, the disintegrating economies ...