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New Suez Canal opens

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Egypt has opened a New Suez Canal parallel to and deeper than the existing canal. The 72km of new channel and bypasses will allow for two-way traffic along part of the route, as well as for larger vessels to transit. The southbound route is now projected to take 11 hours, down from 18 hours on the original canal.

The $8.2 billion project took less than a year to construct. It’s opening today was declared a national holiday.

According to a story by the BBC, the original canal handles 7 percent of global ocean trade. The waterway connects the Mediterranean to the Red Sea, providing the shortest sea link between Asia and Europe.

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