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The Suez Canal – the Effects of Distance on Trade Is that all We Should Be Worried About?

“Canal Talk” has shifted from the expansion of Panama to the possible closing of the Suez. Earlier this week, the Suez Canal website suddenly disappeared from the internet, providing a shock to shipping. This despite the fact its disruption is most likely the result of President Mubarak’s crackdown on Internet service providers throughout the country. The networks are reporting protest scenes in Cairo but what has not been covered is a full-scale confrontation taking place in Suez dangerously close to the operation of the canal. Latest reports indicate the military has taken over the operation and shut down surrounding terminal operations. How those operations are progressing and what services are being affected is difficult to determine as disruptions in communications throughout Egypt is delaying the information flow. It is clear the internet disruption is extensive. While the www.egypt.gov website is down, the Suez Canal is still open and most likely will remain that way as long as it is under military protection.

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Written by: | Categories: Freshly Minted, Market Commentary | February 3rd, 2011 |

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