SUEZ CANAL

March 25, 2021

The Suez Canal, a critical shipping artery that connects the Mediterranean and Red Seas through Egypt, has been blocked after a large cargo ship ran aground while passing through it, bringing traffic on the busy trade route to a halt.

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A human-made waterway, the Suez Canal is one of the world’s most heavily used shipping lanes, carrying over 12% of world trade by volume.
Built in 1869, it provides a major shortcut for ships moving between Europe and Asia, who before its construction had to sail around Africa to complete the same journey.
The 150-year-old canal was controlled by British and French interests in its initial years but was nationalised in 1956 by Egypt’s then leader Gamal Abdel Nasser. Over the years, the canal has been widened and deepened.
In 2015, Egypt announced plans to further expand the Suez Canal, aiming to reduce waiting times and double the number of ships that can use the canal daily by 2023.

Source : Indian Express