suez canal

Cabinet approves Suez Canal Company for Modern Boats free zone establishment

Thu, 18 Apr 2024 - 12:12 GMT

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 sworn in for third term, pledges to boost private sector and drive economic growth in Egypt

Tue, 02 Apr 2024 - 12:42 GMT

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

SCA chief: Suez Canal Museum to preserve, document canal's history

Sat, 30 Mar 2024 - 12:45 GMT

"The museum will remain a memory for the canal and a witness to what it has gone through," Rabie added.

Egypt's PMI slips to 11-month low as Suez Canal disruptions impact economy

Tue, 05 Mar 2024 - 11:53 GMT

The latest PMI reading indicates a notable decrease in demand, output, and employment levels across various sectors of the Egyptian non-oil economy

Duplication of Suez Canal's navigational course still in study phase: Official

Mon, 04 Mar 2024 - 02:21 GMT

The project aims to increase the capacity of the canal by 6 ships, and increase the navigational safety factor in that sector by 28%.

SCA chief: Ship freight costs rose from $750 to $6,800 per container due to tensions in Red Sea region

Sun, 03 Mar 2024 - 07:20 GMT

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.

Suez Canal’s shipping volume decline by 55%: IMF

Sun, 25 Feb 2024 - 02:30 GMT

In contrast, the Cape of Good Hope witnessed a surge of nearly 75 percent in shipping volume, as stated by Kozack

IMF, Egyptian officials making progress on comprehensive policy package: IMF Comms Director

Sun, 25 Feb 2024 - 12:46 GMT

Kozack emphasized that the IMF team and the Egyptian authorities have reached a consensus on the key components of the program, with the authorities demonstrating a strong commitment to its implementation

SCA, Netherlands to cooperate across green transformation industry

Tue, 13 Feb 2024 - 04:53 GMT

Mollema emphasized the strength of the strategic relations between the Netherlands and Egypt, acknowledging the pivotal role played by the Suez Canal as a vital link between Europe and Asia

Impact on Suez Canal’s revenues due to Red Sea attacks' to be absorbed: Finance minister

Sun, 11 Feb 2024 - 04:39 GMT

In February, Osama Rabie, the Chairman of Suez Canal Authority, revealed that revenues for January 2024 had decreased by 46 percent, amounting to $428 million compared to $804 million in January 2023

Japanese logistics company Mitsui OSK Lines sees Red Sea disruption to last up to 1 year

Wed, 07 Feb 2024 - 01:05 GMT

"Before the Red Sea disruptions, 2-3 ships used to pass through the Suez Canal daily... currently no ships of the company are passing through the canal," CEO Hashimoto said on the sidelines of India Energy Week in Goa

U.S. ambassador pays Egypt's Suez Canal official visit

Wed, 31 Jan 2024 - 05:36 GMT

U.S. Ambassador to Egypt Herro Mostafa Garg, who assumed office in November, paid the Suez Canal an official visit, meeting with Admiral Osama Rabie, the authority's chairman.

SCA Chief: Current crisis in Red Sea region calls for consolidated efforts to identify impacts on global supply chains

Mon, 29 Jan 2024 - 06:02 GMT

On his part, Mr. Guy Platten has expressed his appreciation of the SCA's efforts that are exerted towards achieving effective communication with all the key players in the maritime community. He emphasized the positive impact of communication on understanding the current conditions in the maritime transport market as well as the consecutive variables it witnesses.

After Houthi attack: Suez Canal Authority repairs dry bulk carrier ZOGRAFIA in 4 days

Sun, 28 Jan 2024 - 01:14 GMT

It was hit on January while heading from Vietnam to Israel.

SCA Chief: Situation in Red Sea may exacerbate CO2 emissions

Thu, 25 Jan 2024 - 05:12 GMT

his meeting with Secretary-General of the International Maritime Organization (IMO) Arsenio Dominguez on Thursday via video conference, Chairman of the Suez Canal Authority (SCA) Admiral Ossama Rabie said that the current situation in the Red Sea region may exacerbate the harmful carbon emissions of vessels as they consume larger amounts of fuel when they take alternative routes.

Estimated $150M in losses of Suez Canal revenues caused by Red Sea skirmishes: Bloomberg economist

Tue, 23 Jan 2024 - 05:05 GMT

Shipping companies continue to select alternative routes to their destinations as Houthi attacks target Israel-linked vessels near the strategic Bab Al-Mandeb Strait in the Red Sea

Partial blockage of route to Suez Canal may not significantly impact current FY, Moody’s

Thu, 18 Jan 2024 - 12:49 GMT

International ratings agency, Moody’s, believes that, while the partial Red Sea blockade is expected to impact Egypt's current account receipts through the canal’s authority

Suez Canal’s dollar revenues drop 40% amid Red Sea tensions: SCA

Sat, 13 Jan 2024 - 06:33 GMT

During the first 11 days of January, the number of ships crossing the canal decreased by 30 percent to 544 ships, and the tonnage transversing the canal decreased by 41% compared to the previous year.

SCA denies suspending navigation through Suez Canal over Red Sea developments

Fri, 12 Jan 2024 - 11:07 GMT

‏Lieutenant General Osama Rabie, Chairman of the Suez Canal Authority, said on Friday that navigation movement in the canal is regular from both directions.

Suez Canal navigation returns to normal after major efforts by Egypt

Fri, 29 Dec 2023 - 01:54 GMT

In October 2023, there were 705 oil tankers, compared to 590 in the same month of 2022, an increase of 115 oil tankers.