Egypt’s Unrest and International Shipping

The Mediterranean Sea has long been a source for various conflicts. Some more eventful than others and some worse for international shipping companies than others. Most recently the events in Egypt have been a concern for international businesses because of the Suez Canal. With Egypt in control of the Canal, disruptions to the supply chain will be eminent if the wrong people are in power. Since Mubarak was overthrown in 2011 and Morsi came into power, the country has not been able to settle its finances and now with further trouble, the unrest is a bigger threat to international cargo shipping. 

As it is there have been a lot of setbacks for Egypt since Morsi began including lower currency values and a transportation industry that is all but failing. He has most recently been trying to get a loan from the International Monetary Fund (IMF), but that can only be for the short term. Egypt needs to generate its own income and many fear that this will mean higher transit fees for going through the Suez Canal. With an already struggling shipping industry, higher fees will be a big blow especially given that the fees have already been raised twice over the past six months. If Egypt does not settle its finances and higher the Suez transit rates, it could further cripple an already beaten shipping industry and results could be catastrophic. That is why you should get an instant freight shipping quote so that you can get a low rate now.