WORLD HISTORY

Detailed explanation-1: -The Suez Canal mainly transits oil from the Middle East to Europe. Through the Panama Canal transits, mainly, containerized cargo on the route that connects the East Coast of the United States to Asia, or vice versa. (See the infographic in this edition of El Faro.)

Detailed explanation-2: -Therefore, the Suez Canal allows saving between 7 to 10 days of shipping time depending on the ship’s speed. The Panama Canal, completed in 1914, considerably shortened the maritime distances between the American East and West coasts by 13, 000 km.

Detailed explanation-3: -The Panama Canal and Suez Canal are longtime rivals within the container shipping industry as both canals support the flow of global trade by shortening historical trade routes. Container ships have continued to grow in size and the canals noticed the need for expansion projects in order to keep pace with the industry.

Detailed explanation-4: -The Suez Canal is a man-made waterway connecting the Mediterranean Sea to the Indian Ocean via the Red Sea. It enables a more direct route for shipping between Europe and Asia, effectively allowing for passage from the North Atlantic to the Indian Ocean without having to circumnavigate the African continent.

Detailed explanation-5: -Panama Canal Authority Reduces Time Vessels Take to Travel the Canal by more than 16 Percent. Panama City, Panama – The Panama Canal Authority (ACP) announced today that it has reduced by 16.6 percent, the time a vessel spends in Canal waters until it completes its transit through the waterway.