Picture of the Day: Dredger on Its Way Home
- Business & Finance
Dutch Offshore Contractors, an independent company serving the heavy transport needs of clients in the global maritime offshore industry (DOC), has successfully loaded the first of two shipments of dredging equipment in Suez onto HLV Xiang Yun Kou for COSCO Heavy Transport.
The modernized Suez Canal was officially opened on August 6, 2015.
This capital project was a challenge because of its size but above all because of the very tight deadline.
The government stated that the project, funded entirely by Egyptian investors, will more than double the canal’s annual revenue to $13.2bn by 2023.
The Suez Canal is the shortest shipping route between Europe and Asia and is about 170 km long. In order to increase the capacity of the canal and expand the industrial activity in the region, the canal was doubled over a length of 50 km.