suez canal
The Alexandria-based Kased Khair for General Supplies and Contracting Company locally manufactured the floating crane (CC) at the South Korean Shipyard GUESUNG TECH, said the Suez Canal Authority (SCA).
According to an official statement, SCZone's ports handled a total trading volume of 36 million tons during FY2023/2024
The total weight of shipments fell by one third from 1.5 billion tons to one billion tons.
Chairman of the Suez Canal Authority Osama Rabie inspected this week the Suez Canal Aquaculture Company.
The SCA head also highlighted the impact of Red Sea tensions on the maritime transport market, trade movement, and global supply chains
The number of transiting vessels dropped by 11.5 percent, with net tonnage passing through the canal falling by 15.6 percent to close the first 9 months of the fiscal year at 944.9 million tons
In addition to the reduction in ship traffic, there was also a considerable decrease in total tonnage, falling by 68.5 percent in May 2024 to about 44.9 million tons.
In a statement, Maait highlighted the impact of global and regional crises on Egypt's economy, particularly through soaring inflation.
Chairman of the Suez Canal Authority Osama Rabie inaugurated Tuesday in Safaga a factory for building tugboats as a subsidiary of the Red Sea Shipyard.
Egypt is actively overseeing the implementation of 80 port projects, with a total investment of LE 129 billion, in collaboration with 100 private sector companies.
Fitch noted that the direct exchange of strikes between Iran and Israel has raised the risks of an escalation of regional conflict beyond Gaza.
The meeting comes to discuss means of joint cooperation in the field of building ships and the different maritime units.
Currently, the authority is assessing the technical reasons behind the ship's tilting to the right side, and if there is any pollution incurred by the incident.
Soliman added that the priority in terms of location goes to the Mediterranean coasts, followed by those lying on the Red Sea, then the Suez Canal.
The company will specialize in the manufacturing and maintenance of yachts and marine units, with a commitment to meeting all necessary licensing and regulatory requirements
President El-Sisi pointed out the state's keenness to achieve strong, sustainable, and balanced economic growth, strengthen the role of the private sector, focus on the sectors of agriculture, industry, communications, information technology and tourism, and increase their contributions to the domestic product
"The museum will remain a memory for the canal and a witness to what it has gone through," Rabie added.
The latest PMI reading indicates a notable decrease in demand, output, and employment levels across various sectors of the Egyptian non-oil economy
The project aims to increase the capacity of the canal by 6 ships, and increase the navigational safety factor in that sector by 28%.
In response to the crisis, the Suez Canal Authority has held meetings with various stakeholders to address disruptions in global supply chains. Efforts have focused on mitigating the impact of prolonged journey times via the Cape of Good Hope route and addressing the lack of ports and logistical services along this route.
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