From UPSC perspective, the following things are important :
Prelims level : Suez Canal
Mains level : NA
Cash-strapped Egypt increased transit fees for ships passing through the Suez Canal, one of the world’s most crucial waterways, with hikes of up to 10%.
- The Suez Canal is an artificial sea-level waterway in Egypt, connecting the Mediterranean Sea to the Red Sea through the Isthmus of Suez; and dividing Africa and Asia.
- Constructed by the Suez Canal Company between 1859 and 1869, it officially opened on 17 November 1869.
- The canal was earlier controlled by British and French interests in its initial years but was nationalized in 1956 by Egypt’s then leader Gamal Abdel Nasser.
- It extends from the northern terminus of Port Said to the southern terminus of Port Tewfik at the city of Suez.
- Its length is 193.30 km including its northern and southern access channels.
- The Suez Canal provides a crucial link for oil, natural gas and cargo being shipping from East to West.
- About 10% of global trade, including 7% of the world’s oil, flows through the Suez Canal.
- 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.
- As per a report, the canal is a major source of income for Egypt’s economy, with the African country earning $5.61 billion in revenues from it last year.
Try this PYQ:
Q.Between India and East Asia, the navigation time and distance can be greatly reduced by which of the following?
- Deepening the Malacca straits between Malaysia and Indonesia.
- Opening a new canal across the Kra isthmus between the Gulf of Siam and Andaman sea.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Post your answers here.