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EXPLAINED: Suez gpe - The Real Truth

Maersk brings back another shipping service through Suez, but wider return remains distant

The latest move is part of a cautious return to the Suez Canal, with four Maersk services switching back since early July, the most recent in mid-August, while nine others continue to sail around Africa.

Euronews

Earthquake measuring 5.6 magnitude hits Egyptian city of Suez

An earthquake of magnitude 5.6 struck near Egypt's Suez city before dawn. No casualties or property damage were reported following the seismic event. The German Research Centre for Geosciences reported a magnitude of 5.4. Egyptian authorities are assessing the situation and monitoring developments. Residents are advised to avoid damaged buildings…

The Times of India

Drone attack in Egypt raises fresh fears over Suez Canal, global oil supply

A drone strike on Egyptian tankers has raised energy security concerns for the Suez Canal. This vital route offers a safe passage for Saudi Arabian oil exports. Houthi threats have already impacted traffic through the Bab el-Mandeb strait. Many tankers are now rerouting north towards the Suez Canal and Sumed…

The Economic Times

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More tankers turn back as Houthi threat rattles Red Sea oil trade

Houthi militia warnings are causing tankers to change course in the Red Sea. Two vessels altered their destinations to the Suez Canal after the blockade declaration. European Union naval forces advised ships to avoid voyages through the Red Sea. This situation raises concerns for global energy supplies and international trade…

The Economic Times

Four dead, four missing after oil barge sinks in Gulf of Suez: Egypt gov’t

The Adam Marine 12 was being transported to a new location when it capsized, leaving 22 injured.

Al Jazeera

How did Egypt and Israel’s economies do in a year of Houthi attacks?

Traffic through Suez Canal has slowed, driving the cost of goods up, and impacting the two countries’ economies.

Al Jazeera

Melbourne 1956: The Suez Crisis, the Hungarian Uprising and Olympic boycotts

1956 was one of the most turbulent years in the post-war era. Over a period of 12 months, the world witnessed the 20th Congress of the Communist Party of the Soviet Union, the Budapest uprising, the Poznan revolt, the Suez affair and the Algerian war among other events. The Melbourne…

Radio France Internationale

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Maersk sues Evergreen over 2021 blocking of Suez Canal

The world’s biggest shipping company has sued a rival shipping line in a Danish court, seeking compensation for ship delays that resulted from the blocking of the Suez Canal by a hulking vessel two years ago

The Independent UK

Dozens Injured after Bus Overturns in Sharm el-Sheikh

A bus overturned in South Sinai, injuring 47 people, including children, on Monday, according to the Egyptian Ministry of Health and Population. The Ministry announced in a statement that 26 ambulances had been dispatched to the site of the accident on Oyoun Mousa in Sharm el-Sheikh. The Ministry stated that…

Asharq Al-Awsat

Another Tanker Briefly Blocks Egypt's Suez Canal

An oil tanker briefly became stuck in Egypt's Suez Canal on Wednesday night, officials announced, raising fears that last year's major blockage of the global maritime route could be repeated. The Affinity V "ran aground in the Suez Canal at 19:15" (17:15 GMT)", a security source told AFP, adding that…

Asharq Al-Awsat

Egypt’s Suez Canal Records All-time Highest Daily Traffic Rate on Saturday

Traffic passing through Egypt's Suez Canal on Saturday reached an all-time record per day in the canal's history with 89 ships carrying a total net tonnage of 5.2 million tons passing through both directions. Suez Canal Authority (SCA) Chairman Osama Rabea said in a statement that a total of 44…

Asharq Al-Awsat

Lavrov in Egypt Next Week as Part of African Tour

Russian Foreign Minister Sergei Lavrov will kick off a tour of Africa next week that includes Egypt, which he described as Moscow’s “number one” partner in the continent. Russian Foreign Ministry Spokeswoman Maria Zakharova said his trip, from July 24 to 28, will include Egypt, Ethiopia, Uganda and the Republic…

Asharq Al-Awsat

Egypt’s Suez Canal Revenue Rises 20.7% in 2021/22 to $7 Bln

Egypt's Suez Canal recorded $7 billion in revenue for the fiscal year 2021/22, up 20.7% from a year earlier, Suez Canal Authority Chairman Osama Rabea said in a statement on Monday. Egypt's fiscal year runs from July 1 to June 30. The canal is the fastest shipping route between Europe…

Asharq Al-Awsat

Egypt Expects Suez Canal Revenues to Hit $7 Bln by End of Fiscal Year

Egypt expects the Suez Canal's revenues to reach about $7 billion by the end of the current fiscal year, finance minister Mohamed Maait said on Saturday. Tourism revenues are expected to reach between $10 billion and $12 billion by then, despite the Ukrainian crisis, he added. Egypt's fiscal year runs…

Asharq Al-Awsat

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Asharq Al-Awsat

Suez Canal Sees Record Monthly Revenue in April on Higher Traffic

Egypt's Suez Canal recorded its highest monthly revenue to date in April, reaping $629 million in ship transit fees, the authority managing the waterway said on Sunday, as traffic rebounded from the impact of the pandemic. The monthly revenue in April was 13.6% higher than a year ago, canal authority…

Asharq Al-Awsat

Egypt’s Suez Canal Increases Tolls for Laden Crude Oil Tankers

Egypt's Suez Canal Authority said on Tuesday it will temporarily increase a surcharge levied on laden crude oil tankers and petroleum products tankers transiting the canal in both directions to 15% of normal dues from 5%, effective May 1. It said that ballast crude oil tankers and petroleum products tankers…

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