Suez Canal is the marvelous man made canal, connecting Red Sea and Mediterranean Sea. It was made to reduce time travel and thus save lot of money in fuel. Before that ships used to go from Cape of Good Hope southern part of South Africa.
But whenever there is reduction in price of the fuel, ship owners prefer sending ships round the South Africa, instead of Suez Canal. Because the fees to cross the canal is much more than the price of fuel and time taken to cross this. As per the statistics, it is estimated that Canal will lose around $10 Million Dollars. Now prices of fuel as we know have gone down drastically and it is forcing ship owners to avoid using Suez Canal.
