Suez Canal revenue drops as some shippers shun Red Sea
EGYPT : The Suez Canal‘s annual revenue dropped by almost a quarter in its latest financial year as some shippers switched to alternative routes to avoid attacks by
SCA announces new Suez Canal mooring regulations and costs
CAIRO : The Suez Canal Authority (SCA) has announced new Circular No. 1-2024 about regulations and costs of mooring boats, mooring services, and lights during vessels’ transit through
Red Sea : Houthi attacks put pressure on Cairo
YEMEN : Houthi attacks on international ships in the Red Sea have hit Egypt especially hard. As vessels have begun to avoid the strait between the Arabian Peninsula and northeastern Africa, and
Egypt’s Suez Canal revenues down 40% due to Houthi attacks
CAIRO : Dollar revenues from Egypt’s Suez Canal are down 40% from the beginning of the year compared to 2023, canal authority head Osama Rabie said on Thursday,
Panama Canal drought could boost New Year rates
PANAMA : Drought in Panama and war around the Red Sea and Suez is a slow-burning but developing crisis for the container shipping industry as both canals become choke points
‘One Orpheus’, a container ship crashes in Suez Canal
EGYPT : A container ship has crashed into a bridge in the Suez Canal, the vital trade route between Asia and Europe.The container ship One Orpheus lost control
Maersk reaches settlement over ship that blocked the Suez Canal
COPENHAGEN : A.P. Moller-Maersk A/S settled a Danish lawsuit against the companies behind a ship that blocked the Suez Canal in 2021, forcing shipping lines to delay or
Egypt’s Suez Canal fees set to rise
CAIRO : Fees for transiting the Suez Canal are set to rise by 15% for most vessel types from the 15 January 2024 with some exemptions for container
World’s largest containership squeezes through Suez Canal
EGYPT : Evergreen’s giant 24,000 TEU containership Ever Acme transited the Suez Canal on Friday, 3 of February, while underway on its maiden voyage from Malaysia to the
Suez Canal expected to earn over $8.5bln in 2023
EGYPT : Revenues of Suez Canal are expected to reach $8.70 billion in 2023, Chairman of the Suez Canal Authority (SCA), Osama Rabie, said. On Monday, cargo ship