The Suez Canal blocked by an accident, is worth 12% of world trade

by time news

Time.news – About 12% of world trade: in strategic terms, the Suez Canal is now blocked due to an accident. These are the main data, according to the findings of the SRM studies, the Intesa Sanpaolo Study Center.

Traffic

Transits through the Canal have shown remarkable resilience to the effects of the pandemic, surpassing one billion tons of goods in 2020. The total number of transits for the year 2020 was 18,829 ships.

Navi

There are 5,113 transits of Dry Bulker (ships carrying dry cargoes), up by 21.7% in 2020, 5,006 transits of Tankers-oil tankers (-3%), 4,710 transits of container ships (-12.4% ). More than 20% of the ships in transit through Suez are new ships (they crossed the canal for the first time in 2020), attracted by the new tariff discounts introduced in the Covid-19 period.

Revenues

In financial terms, 2020 was the third richest year in the history of the Canal, whose revenues were $ 5.61 billion, down 3.3% from $ 5.8 billion a year earlier. ($ 5.3 billion in 2014).

Energy

About 7% of world oil trade by sea passes through Suez; which makes the Canal the 4th most important and strategic checkpoint in the world.

The weight of Suez for Italy

The trade route by sea between Italy and the Asian countries passes through Suez which is also a fundamental hub for the Chinese Silk Road project. In 2020 these amounted to 82.8 billion euros, or 40.1% of the total maritime trade of our country.

The risks

There are dozens of ships at the gates of the Canal awaiting the release of the transits. The risk resulting from the accident in the Canal is that congestion can be created in European ports.

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