Flashback in maritime history: Suez Canal opened to shipping 17 November 1869

(http://www.MaritimeCyprus.com) The Suez Canal opened to shipping on 17 November 1869. Excavation of the Canal had taken ten years, using forced labor and rudimentary mechanical equipment. Construction had been opposed by British interests, who feared competition in trade with India. Once the Canal opened and proved successful, British interests acquired a majority ownership. The Canal…

Flashback in history: Suez Canal opened to shipping 17 November 1869

The Suez Canal opened to shipping on 17 November 1869. Excavation of the Canal had taken ten years, using forced labor and rudimentary mechanical equipment. Construction had been opposed by British interests, who feared competition in trade with India. Once the Canal opened and proved successful, British interests acquired a majority ownership. The Canal was…

Egypt announces plans to build a second Suez canal.

CAIRO // Egypt plans to build a new Suez Canal alongside the existing 145-year-old historic waterway in a multibillion dollar project aimed at expanding trade along the fastest shipping route between Europe and Asia. The Suez Canal earns Egypt about US$5 billion (Dh 18.37 billion) a year in revenues, a vital source of hard currency…