THE GULF WAR : Business: Canal Shipping
The SUEZ CANAL, one of Egypt’s main sources of foreign exchange, is losing revenue because of the Persian Gulf War. The Middle East News Agency said that traffic in the waterway, which links the Mediterranean and the Red Sea, fell by 12% after the invasion of Kuwait. The average daily tonnage passing through the canal since the war started is 780,000; in 1990, the average was 1.1 million tons. On Feb. 2, only 123,000 tons of shipping passed through--the lowest one-day total in 12 years.
Sign up for The Wild
We’ll help you find the best places to hike, bike and run, as well as the perfect silent spots for meditation and yoga.
You may occasionally receive promotional content from the Los Angeles Times.
