The canal is extensively used by modern ships, as it is the fastest crossing from the Atlantic Ocean to the Indian Ocean. Tolls paid by the vessels represent an important source of income for the Egyptian government.
Importance of 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 unique geographical position of the Suez Canal makes it of special importance to the world and to Egypt as well.
This importance is getting augmented with the evolution of maritime transport and world trade. The maritime transport is the cheapest means of transport, whereas more than 80 % of the world trade volume is transported via waterways (seaborne trade).
Advantages of the Suez Canal
❃ It is the longest canal in the world without locks.
❃ The accidents are almost nil compared with other waterways.
❃ Navigation goes day and night.
❃ The Canal is liable to be widened and deepened when required, to cope with the development in ship sizes and tonnages.
❃ With the adoption of the Vessel Traffic Management System (VTMS) ( a system depending upon the most up-to-date radar network), vessels can be monitored and followed on every spot of the Canal and intervention in emergency cases can be taken.
❃ The Suez Canal accommodates the partially loaded VLCCs and ULCCs.