WORLD HISTORY

Detailed explanation-1: -Both the Suez Canal and the Panama Canal reduced maritime shipping distances and costs considerably. For instance, the Suez Canal shortened the distance on a maritime journey from Rotterdam to Mumbai (Bombay during colonial India) by 41%. It shortened the distance on a journey from London to Shanghai by 32%.

Detailed explanation-2: -Why is the Suez Canal important? The Suez Canal is important because it is the shortest maritime route from Europe to Asia. Prior to its construction, ships headed toward Asia had to embark on an arduous journey around the Cape of Good Hope at the southern tip of Africa.

Detailed explanation-3: -Initial construction of the Panama Canal in 1904 was completed in 1914, making it no longer necessary for vessels to sail the lengthy and hazardous Cape Horn route. The canal shortcut made it possible for vessels to travel between the Atlantic and Pacific Oceans in half the time previously required.

Detailed explanation-4: -The Suez canal is a significant route for energy, commodities, consumer goods and componentry from Asia and the Middle East to Europe. The canal’s location also makes it a key regional hub for shipping oil and other hydrocarbons.

Detailed explanation-5: -It cuts down the voyage of ships by providing a passageway that directly brings them to South America. This reduced travel time by over 15, 000 kilometers. Routes to North America and other South American ports have also fostered easier travel through the Panama Canal, which saved over 6, 500 kilometers.