Egypt’s Suez Canal Records All-time Highest Daily Traffic Rate on Saturday

A shipping container passes through the Suez Canal in Suez, Egypt February 15, 2022. Picture taken February 15, 2022. REUTERS/Mohamed Abd El Ghany
A shipping container passes through the Suez Canal in Suez, Egypt February 15, 2022. Picture taken February 15, 2022. REUTERS/Mohamed Abd El Ghany
TT

Egypt’s Suez Canal Records All-time Highest Daily Traffic Rate on Saturday

A shipping container passes through the Suez Canal in Suez, Egypt February 15, 2022. Picture taken February 15, 2022. REUTERS/Mohamed Abd El Ghany
A shipping container passes through the Suez Canal in Suez, Egypt February 15, 2022. Picture taken February 15, 2022. REUTERS/Mohamed Abd El Ghany

Traffic passing through Egypt's Suez Canal on Saturday reached an all-time record per day in the canal's history with 89 ships carrying a total net tonnage of 5.2 million tons passing through both directions.

Suez Canal Authority (SCA) Chairman Osama Rabea said in a statement that a total of 44 ships had passed through the canal from the north with a net tonnage of three million tons.

He confirmed that 45 ships also crossed from the south with a net tonnage of 2.2 million tons.

Earlier in July, Rabea said the Canal revenue reached $704 million.

The figure reflected a 32.4% increase from the same month last year, when the canal only recorded $531.8 million.

The canal is the fastest shipping route between Europe and Asia and one of the Egyptian government’s main sources of foreign currency.



Honda and Nissan Reportedly Consider Mutual Production of Vehicles

FILE PHOTO: A Honda logo is seen during the New York International Auto Show, in Manhattan, New York City, US, April 5, 2023. REUTERS/David 'Dee' Delgado/File Photo/File Photo
FILE PHOTO: A Honda logo is seen during the New York International Auto Show, in Manhattan, New York City, US, April 5, 2023. REUTERS/David 'Dee' Delgado/File Photo/File Photo
TT

Honda and Nissan Reportedly Consider Mutual Production of Vehicles

FILE PHOTO: A Honda logo is seen during the New York International Auto Show, in Manhattan, New York City, US, April 5, 2023. REUTERS/David 'Dee' Delgado/File Photo/File Photo
FILE PHOTO: A Honda logo is seen during the New York International Auto Show, in Manhattan, New York City, US, April 5, 2023. REUTERS/David 'Dee' Delgado/File Photo/File Photo

Honda and Nissan are considering producing vehicles in one another's factories as part of their plan to deepen ties and potentially merge, Japan's Kyodo news agency said on Saturday.
Honda will consider supplying hybrid vehicles to Nissan as part of the plan, the report said, without citing the source of the information.
A merger of Honda, Japan's second-largest car company, and Nissan, its third-largest, would create the world's third-largest auto group by vehicle sales, behind Toyota and Volkswagen, making 7.4 million vehicles a year, Reuters said.
The two automakers forged a strategic partnership in March to cooperate in electric vehicle development, but Nissan has faced financial and strategic troubles in recent months.
As announced, Honda, "Nissan and Mitsubishi Motors are in the process of bringing together our strengths and exploring potential forms of cooperation, but nothing has been decided yet,” a Honda spokesperson said, when asked about the report.
Nissan declined to comment, saying the details of the report were not based on a company announcement. Nissan is the top shareholder in Mitsubishi Motors.
Kyodo said Honda could use Nissan's car factory in Britain, as it now only has factories for engines and motorcycles in Europe.
The move comes amid concerns over how president-elect Donald Trump's policies may shake up manufacturing with his promises of protectionist trade policies, the report said.