8 years ago
1
Cheap oil is taking shipping routes back to the 1800s
Plummeting oil prices have had many effects – one of which is that it may be cheaper for ships to travel right around Africa than go through the Suez Canal.
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I honestly can't say I blame them when reading the conditions to get a Suez canal pass through. Being forced to carry Suez Canal personnel for the whole trip who are accused of doing nothing but trying to sell trinkets and impose a cigarette tax and that's on top of an exorbitant price of $350k a ship. If it was me and I could save money or come close to breaking even by going around the horn then I'd bypass the canal too.