The new Suez Canal: economic impact on Mediterranean trade [Chapt. 6]

Chapter VI analyzes the economic impact of one of the most important infrastructure projects realized this century: the expansion of the Suez Canal. It will affect naval traffic and trade positively, representing an opportunity to grasp for enterprises and for shipping companies. The first will have the chance to count on more rapid cargo shipping and therefore on better processes of internationalization, the latter will be able to streamline routes and logistic systems. The new Canal is not just a huge infrastructural project, it is also expected to become a center of economic commercial and logistics interest for the whole of Egypt through the realization of the Suez Canal Corridor Area Project. All this will increase the centrality of the Mediterranean, which already circulates 19% of world traffic of goods and whose traffic increased in the past 15 years by more than 120%. In addition major port investments are being implemented in the various countries of the basin (for example, Tanger Med, Piraeus, Algeciras, Valencia). The circulating fleet in transit in the Canal (already 17,000 ships per year) is also likely to increase with the growing presence of large ships and big players; as a matter of fact, one should be reminded that the vessels of the 2M (Maersk, MSC) and Ocean Three (CMA CGM, UASC, CSCL) alliances travel in the Mediterranean. Other major container shipping companies are using 20,000 TEU ships on many routes of interest for Italy such as Asia-Med and Gulf-Med.