Will Egypt close the Suez Canal?

Discussion in 'Current Affairs, News and Analysis' started by Jeneral28, Aug 21, 2013.

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  1. It was closed for at least a decade after the 6 day war, we survived it. An inconvenience yes, but not a death blow.
     
  2. If Blair was in power we'd be tooling up for another para drop on the joint.

    With the assistance of a dodgy report and a dead scientist or two allegedly.....
     
    • Like Like x 3
  3. ^My mistake, it was only 8 years.
     
  4. Super Tankers came about because of this, so in effect, **** all will be felt!
     
  5. Egypt is in a financial shite state....among other shite goings on there, they get good revenue from the canal, so I can't se that happening.....!
     
  6. ...and, at the request of the Egyptian government,was cleared mostly by RN MCM forces during Operation RHEOSTAT:

     
  7. ****ing hate going through the canal, the hassle, the sleazy pilots bringing entire family onboard, every 5 minutes some "official" trying to get a carton of cigarettes off us, and the waiting at each end.
     
  8. Grumblegrunt

    Grumblegrunt LE Book Reviewer

    they are sailing over the top now and doing the northwest passage so little lost, the somali pirates might be a little annoyed though
     
  9. Got a source for that? Have heard of several exploratory convoy type runs doing it but didn't know ships were actually using it as a recognised commercial route yet.
     
  10. Well, the PRC-flagged Yong Sheng has set sail on that route from Dalian to Rotterdam. It's interesting to note that the PRC has been developing deep-water ports in Liaoning for over a decade, particularly at Dalian and Yingkou.

    If the canal is closed, oil exports from the middle east to Europe and the Americas might take a hit but imports from the far east aren't likely to be hit. On the plus side, that might encourage us to become less reliant on ME oil and could ultimately even drop the whole mess firmly in someone else's lap.
     
  11. If the Suez does close there would be a large financial impact for every one. The cost of freight would face a vast increase impacting every part of our daily lives. On the flip side though any one that owns ships would make a huge amount of money
     
  12. That would depend on where the freight is coming from and the viability of alternate routes. The ME doesn't export much beyond oil that can't readily be sourced elsewhere and there are ways to avoid the canal with only a relatively small initial outlay in switching.
     
  13. See we were right when UK plc along with the Frogs seized it all those years ago.
     
  14. Without wanting to get boring it is not the middle east exports that would be the issue, it’s the fact that everything from the far east to the west would have to go via the cape so that is pretty much everything. Just look at most things in your house that are made in the far east.

    With a simple calculation with today’s oil prices and depressed freight rates for ship owners the extra cost per MT of cargo for shanghai to eu would be between $10 to $12 that is not too bad however
    There would be an increase in transit time by over 25 days on a round trip.

    This would create a demand for vessels, drawing ships from other markets as every industry clamours to insure that there deadlines for deliverers are met, creating a perfect storm for ship owners that would push rates to perhaps the highs of the 2007 market this would in effect at least triple all freight costs

    This would cripple almost all families with the extra costs