Container traffic through the Suez Canal down 15.7 per cent in August
Traffic through the Suez Canal continues to decrease. In August, container traffic declined 15.7 per cent, reports the Arabic news site Bikya Masr. Container traffic is commercially very important for the Suez Canal Authority. The decline in container tonnage began last November due to the global financial crisis and reached its lowest point in February with 32.1 per cent in tonnage and 25.1 per cent in the number of vessels. The Egyptian government and analysts express worry about the future of the waterway. The global economic crisis and the piracy threat to ships passing the Gulf of Aden are two sources of concern.