Video: Escalating Sinai violence threatens Suez Canal At nearly 200 kilometres long, the Suez Canal is owned by Egypt but governed by an international treaty that guarantees free navigation. However deepening security crisis in northern Sinai threatens this key waterway between the Red Sea and the Mediterranean. In September, the head of the Suez Canal Authority reported "a terrorist" had launched the attack against a Panamanian-flagged ship. He added in a statement that "the attempt failed completely and there was no damage to the ship or the containers it carried." Middle East Correspondent Richard Spencer said it highlights Islamist violence this low level insurgency is spreading across to Sinai and encroaching on the canal.