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Suez Canal growing at record level, over 18,000 ships in 2018

Logistic News - Published on Tue, 19 Feb 2019

Image Source: Bunkerist
The Suez Canal is experiencing significant growth in freight transport, according to a report by SRM Study and Research Centre for Southern Italy and the Intesa San Paolo Group, presented during a conference in Naples. The report said the Suez Canal set a double record in 2018, both for the number of transiting ships (over 18,000, +3.6%) and for cargo transported (983.4 million tons, +8.2%). It highlighted how the enlargement of the Suez Canal led to a 12% growth in the median size of ships passing through in 2018 compared to 2014, the year prior to the expansion. It said the new infrastructure is supporting the demands of the phenomenon of gigantism, which regards all types of shipping.

Container ships are the most numerous of those that transited the Suez Canal (5,706, +2.5%). Freight traffic totaled 983 million tons, up 8.2% on 2017, when the previous freight record was set. The new record came from freight traffic crossing the Canal from both the north as well as the south, with 524.6 million tons (+9.8%) in the north-south direction and 458.8 million tons (+6.6%) in the south-north direction. These increases broke the two previous records set in 2017.

Container and oil shipping make up 74% of total freight traffic, with containers transporting over half of all freight.

The Suez Canal is the third most important route in the world for oil and natural gas transport from the Gulf to Europe and North America. These two routes represent about 9% of worldwide oil trade by sea.

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Posted By : Joykumar Irom on Tue, 19 Feb 2019
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