Suez Canal: Egypt Considers Complete Doubling of Navigation Channel

The head of the Egyptian Suez Canal Authority, team Osama Rabie, indicated on Monday that "Egypt is studying the project for the complete doubling of the navigation channel of the canal," in a move that may allow for increased shipping volume and expedited vessel movement in both directions. He explained that this project "aims to fully dualize the canal in both directions to enhance its classification and increase its competitiveness, in addition to increasing the numerical and capacity capability of the canal to accommodate all categories and sizes of the global fleet." Rabie confirmed that this project "is still in the study phase." This statement comes at a time when the Suez Canal Authority is experiencing a sharp decline in revenues due to shipping companies rerouting their vessels away from this waterway, which is the shortest route between Europe and Asia, due to attacks by Houthi militants on ships in the Red Sea.