Sunday 25th June, 2017

Cargo ships could save thousands by skipping the Suez Canal

Hellenic Shipping News - Monday 29th February, 2016

The low price of oil is allowing cargo vessels to avoid the costly tariffs of the Suez and Panama canals and take the long way round Africa instead, according to a new report. The report released this month by maritime trade analysts SeaIntel found that, since October last year, 115 vessels transporting goods from Asia to North Europe and the U.S. east coast sailed around South Africa on their return journey, instead of using a canal. Falling fuel prices mean the ships could afford to take the longer route at a faster speed, thus taking the same amount of time as using the canal, ...
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