Suez Canal Today

Egypt has owned the Suez Canal since 1956-present time. The total original cost of building the canal was about $100 million. The canal had a dramatic affect on world trade from the time it was opened, and even on world politics. Now, it was much easier for European nations to colonize Africa. The canal stretches over 100 miles. Suez Canal Authority reported that in 2003 17,224 ships passed through the canal. It saves travelers 4000 miles and two weeks worth of time. Currently, supertankers can offload part of their cargo onto a canal owned boat and reload at the other end of the canal.