News

CSCL: New Suez Canal will save time, money ===========================================
21st May 2015 22:19 GMT Be the first to rate this story.

'The cost saving by the new canal would be around 60,000 to 70,000 US dollars per ship'
The expanded Suez Canal will help shipping companies save time and money, according to the liner manager of Chinese shipping firm China Shipping Container Lines (CSCL).

Qin Haipin, liner manager of CSCL Egypt, told Chinese news provider Xinhua that the widened waterway will also enhance world trade because it is the "shortest route between East and West".

In August of last year, the Suez Canal Authority announced plans for a new waterway to be built to run alongside the canal. The project was created to cut waiting times for vessels by allowing ships to transit in both directions simultaneously.

"This saves time, fuel consumption and ship operating costs and gives us some flexibility in managing capacity," Qin was quoted as saying.

CSCL, which currently has a fleet of over 150 vessels, said the new Canal will be able to cope with increasing ship sizes and tonnages. Once expansion work has been completed, CSCL said waiting times for ships will be reduced from 11 to three hours.

"The cost saving by the new canal would be around 60,000 to 70,000 US dollars per ship," Zhou Chenwei, captain of CSCL's Indian Ocean vessel, told the news provider.

In March, Egypt's trade minister Khaled Hanafy said that the expansion project would be completed by July of this year.
( INSALLAH )