Suez Canal Authority
President Abdel Fattah El-Sisi met with Chairman of the Suez Canal Authority Admiral Ossama Rabiee, and CEO of the South Red Sea Shipyard Company, Mostafa El-Degeishy.
Rabie stated: “We call on all shipping lines to seriously consider evaluating their sailing schedules and the possibility of gradually resuming the transit of some of their vessels through the region.”
Lieutenant General Osama Rabie, Chairman of the Suez Canal Authority, received on Monday, The Argentine Ambassador to Cairo Holger Martinsen.
The floating hotel measures 72 meters in length, 13 meters in width, and weighs 1,600 tons.
The announcement was made during Rabie’s address at the opening of the 14th Annual International Maritime and Logistics Conference (MARLOG).
Rabie met with Gérard Mestrallet, French President Emmanuel Macron’s special envoy for the IMEEEC, earlier today to discuss potential areas of collaboration.
Rabie highlighted the significance of collaboration amid global geopolitical and environmental challenges affecting maritime transport. He reaffirmed the SCA’s dedication to working with international partners to boost operational efficiency and facilitate trade.
In a meeting with representatives from 23 prominent maritime companies, Rabie shared his optimism about the region’s recovery
The meeting focused on the latest developments in the Red Sea and Bab el-Mandeb region, assessing their impact on the group's future shipping plans.
Despite challenges, Rabie reiterated the SCA's commitment to delivering seamless maritime services, continually evolving to meet industry demands
Sisi checked on the canal's revenues for 2024, which have seen a decline of over 60% compared to 2023, translating to an estimated loss of nearly $7 billion for the nation, due to the ongoing events in the Red Sea and Bab Al-Mandab.
The crossing of the barge took nearly 24 hours and required complex navigational arrangements, the SCA chief says
Since November 2023, over 6,600 vessels have diverted their routes to the Cape of Good Hope, explained the SCA head.
A document circulating on social media alleges that the head of the Suez Canal Authority (SCA) and the Port Said governor signed a contract to sell the headquarters to a hotel company, with plans to convert the building into a hotel.
Rabie confirmed that Egypt is implementing an integrated strategy to encourage yacht tourism in the Suez Canal.
The Suez Canal Authority Pension Fund, as noted on the bank’s website, already holds a 10.10 percent stake in the bank
The SCA head also highlighted the impact of Red Sea tensions on the maritime transport market, trade movement, and global supply chains
The latest PMI reading indicates a notable decrease in demand, output, and employment levels across various sectors of the Egyptian non-oil economy
Rabie expressed appreciation for the longstanding relationship with the Italian "MESSINA," which has recently seen an increase in the number of vessels transiting through the Suez Canal despite the current challenges in the Red Sea region.
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
