Restive Cities Threaten Egypt’s River of Cash

Evan Applegate

Oil products, natural gas, and containerized goods make up the bulk of shipments through the canal.

GRAPHIC BY BLOOMBERG BUSINESSWEEK

Attempting to quell unrest, President Mohamed Mursi declared a state of emergency in Port Said, Ismailia, and Suez. The cities straddle an important source of hard currency, but canal traffic has so far escaped disruption.

Ismailia

Thousands poured into the streets in defiance of the restrictions, and a soccer match was held outside a government building after curfew.

Port Said

At least 45 have been killed as a besieged police force tries to stop riots sparked by death sentences given to local soccer fans.

Suez

The city’s chamber of commerce declared the curfew “unacceptable,” and most businesses remain open even as banks close in response to the turmoil.

The Suez Canal: Vital for Egypt

$5.1b in revenue from Suez Canal tolls

740m tons of goods passed through in 2012

17k ships went through last year

8% of global seaborne trade moves through the canal

DATA: SUEZ CANAL AUTHORITY, UN CONFERENCE ON TRADE AND DEVELOPMENT

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