Egypt said on Saturday it had successfully tested a new 10km channel near the southern end of the Suez Canal, even as its revenue from the waterway has plunged since Yemen’s Houthi militants began attacking vessels in the Red Sea.
Ships are seen from a plane window, passing through the Suez Canal, Egypt. Source: Reuters/Mohamed Abd El Ghany
The Suez Canal Authority said in a statement that during a trial run two ships passed through a new stretch of the canal’s two-way section without incident.
Following the 2021 grounding of the container ship Ever Given that blocked the vital waterway for six days, Egypt accelerated plans to extend the second channel in the southern reaches of the canal and widen the existing channel.
Its revenue from the waterway, the gateway to the shortest route between Europe and Asia, has nevertheless tumbled since Yemen’s Houthi militants began attacking ships in the Red Sea in November 2023 in what they say is solidarity with Palestinian militants in Gaza.
Egyptian President Abdel Fattah al-Sisi said on Thursday that due to “regional challenges”, the country had lost approximately $7bn in Suez Canal revenue in 2024, marking more than a 60% drop from 2023.
Better equipped to handle emergencies
According to the Suez Canal Authority, the latest expansion extends the total length of the canal’s two-way section to 82km from a previous 72km. The canal is 193 km long in total.
“This expansion will boost the canal’s capacity by an additional six to eight ships daily and enhance its ability to handle potential emergencies,” the Suez Canal Authority said in its statement.
Earlier this year, Egypt said that it was considering an additional expansion project separate to the 10km channel extension.
