Tag: Suez Canal

Sudan rejects reports of Iran’s bid for Red Sea navy base, as Russian base is on hold

March 12, 2024

Sudan has dismissed all reports of Iran’s intention to establish a naval base on the country’s Red Sea coast, which comes at a time when ... Read More

Red Sea crisis to affect global trade, fuel inflation in Africa and beyond

January 30, 2024

Escalating attacks by Yemen’s Houthi rebels on ships in the Red Sea have not only unraveled a key global trade route, sending shipping and insurance ... Read More

Ship stuck in Egypt’s Suez Canal

May 25, 2023

A Hong Kong-flagged ship has run aground in Egypt’s Suez Canal causing traffic jam, reports say adding that authorities are at work to refloat the ... Read More

Sudan fighting likely to affect supply chains, disrupt regional trade — analysts

April 26, 2023

As fierce battles between armed forces loyal to two rival generals continue raging and with Sudanese counting their losses, the wider region is already reeling ... Read More

Egypt inks deals with international consortiums to establish, manage, operate Sokhna & Dekheila ports

March 16, 2023

Egypt signed two agreements worth $1.6 billion with international consortiums on the establishment of the superstructure, management, operation, exploitation, maintenance, and handing over of the ... Read More

Maersk unveils plans to invest $500m in Egypt’s Suez Canal

August 12, 2022

Danish shipping company Maersk is planning to inject around $500 million worth of investments into the Suez Canal Container Terminal in East Port Said, statement ... Read More

Egypt: Suez Canal authority raises transit fees for oil tankers to 15%

March 23, 2022

The Suez Canal Authority announced Tuesday it will temporarily raise fees levied on tankers carrying crude oil and petroleum derivatives for ships transiting the waterway ... Read More

Cargo blocking Suez Canal navigation refloats

March 29, 2021

Egypt Suez Canal authorities Monday said the ship which has blocked navigation in the canal has refloated, adding that the course of the ship has ... Read More

Egypt’s Suez canal generates revenues of $6.24 billion

June 11, 2019

Egypt gained $6.24 billion in revenues from the Suez canal, that is a 5.14% rise compared to last year. The Egyptian government set the target ... Read More

Egypt-KSA: Cairo to receive Riyadh assistance to ease economic suffocation

December 16, 2015

Saudi Arabia will invest around $ billion and offer oil assistance to Egypt in a bid to help al-Sissi’s country ease its economic uneasiness, reports ... Read More