Shipping
Shipping companies choosing to reroute will have to deal with additional costs and time to their journeys, causing oil prices and war risk insurance premiums to climb at a rapid rate.
Chairman of the Suez Canal Authority Admiral Osama Rabie stated Wednesday that the tugboats had successfully handled the technical issues experienced by two tankers during their navigation in the waterway.
The prime minister instructed holding a meeting comprising the different entities in order to agree on the sailing network, and the products to be exported.
It is the beginning to turn Egypt into a hub of green marine fuels.
The eastern breakwater project in Damietta Port has been completed as part of a plan to transform Egypt into a global center for trade and logistics.
The prime minister told press that the alliance will invest almost half a billion dollars in the first phase alone in spite of the economic circumstances the world is undergoing.
To achieve that goal, the ministry works on attracting more investors to Egypt's maritime transport market.
The signing was attended by Minister of Transport Kamel al-Wazir, who also witnessed the signing of another memorandum between the same parties.
One of the reasons is that Russia and Ukraine combined fulfill 30 percent of the global market's needs of wheat, cooking oil, and grains.
Rabie also clarified the reasons behind the cancellation of the 15-percent discount offered to liquefied gas tankers.
The world has 32 landlocked developing countries that represent 1.1 percent of global trade, with half of them being African.
EVER AIM used the new Canal dug parallel to the original one.
The official pointed out that the Suez Canal accomplished revenues worth $530.7 million in FY2020/2021 with a hike of 20.7 percent.
President Abdel Fatah al-Sisi received a phone call Tuesday from Spanish Prime Minister Pedro Sanchez discussing economic and diplomatic cooperation.
That is the primary estimation.
That is the third highest in the international waterway's history dating back to 1869.
Suez Canal Authority Chairman Mohab Mamish stated on Monday that Egypt is preparing to launch shipping lines connecting Egypt with fellow African states.
Maersk to send the first shipping vessel through the Arctic route to collect data.
Walmart Inc is asking vendors to supply it with more merchandise priced at $10 and up, as part of a major push to finally turn a profit at its online business.
Trade Minister Tarek Kabil issued a decree on Saturday to form a council for transportation, logistics and shipping.
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