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The Latest Breaking News from Suez

Egypt's Suez Canal revenue fell sharply in 2024 on regional tensions

Attacks by the Iran-backed Houthi rebels have continued to significantly impact commercial shipping through the Suez Canal.

Euronews

Egypt's revenue from the Suez Canal plunged sharply in 2024

Officials say Egypt’s revenue from the Suez Canal plunged by almost two thirds last year, attributing the sharp drop to regional tensions and wars in the Middle East that have impacted traffic through the key waterway

The Independent UK

JD Vance may be right and wrong about the Suez Canal and Europe

Attacks on tankers or, worse, a wider conflict in the Arabian Peninsula, could spur stagflation.

Fortune

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UK petrol and diesel prices jump following Houthi attacks

Petrol is up 3.2p a litre and diesel 4p a litre as fuel tankers are forced to avoid the Suez canal

The Guardian - UK

Red Sea crisis: Suez Canal is not the only 'choke point' that threatens to disrupt global supply chains

The air strikes against targets in Yemen by the US and UK military have not been without criticism. They aim to keep the Houthis from attacking merchant vessels in the Bab el-Mandeb strait. Less than 30 ships have been attacked by Houthis since they seized the Israeli-linked Galaxy Leader vessel…

The Conversation

Red Sea, Panama Canal Send Container Freight Costs Soaring – What It Means For Global Economy And Wall Street

The Panama Canal drought causes severe shipping delays from Asia to the U.S. East Coast, particularly for heavy goods. Carriers are rerouting from trans-Pacific to trans-Atlantic via the Suez Canal, with alternate routes increasing transit times by 20-30%.

International Business Times

Here's How to Profit From Renewed Supply Chain Woes

Wall Street analysts have largely declared victory over COVID-related supply chain bottlenecks, but geopolitical conflicts and climate change have created new chokepoints for international trade in the Suez and Panama Canals. Here's how investors can profit from more upside in the major shipping companies this year.

Barchart

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More than 100 container ships rerouted from Suez canal to avoid Houthi attacks

Cape of Good Hope diversion adds 6,000 nautical miles and three or four weeks to delivery times and has driven up oil prices

The Guardian - UK

Suez Canal ships on move again as stranded tug refloated after huge salvage operation

Egypt's Suez Canal is a vital waterway trade that allows ships a more direct route than the 3,000 mile journey around the tip of Africa - amounting to billions in revenue for global trade

Daily Mirror

ACWA Power, Oman Investment Authority Study Possibility of Wind Power Plant Project in Egypt

Saudi Arabia and Oman signed on Tuesday a memorandum of understanding to study the possibility of investing up to 10 percent in the development, construction, and operation of the 1.1 GW Suez wind power plant project, which is valued at $1.5 billion. Oman News Agency reported that Oman Investment Authority…

Asharq Al-Awsat

The markets have taken back control: so much for Truss’s Brexit delusion of sovereignty

This is the biggest humiliation of Britain since Suez, a reminder that no government can ignore reality, says Guardian columnist Jonathan Freedland

The Guardian - UK

Rare metals, weird words and well-dressed Minions teens – take the Thursday quiz

Fifteen questions on general knowledge and topical trivia plus a few jokes every Thursday – how will you fare?

The Guardian - UK

Stuck container ship Ever Forward finally refloated after a month

Ship freed from muddy bottom of the Chesapeake Bay at third attempt is owned by same company as ship stuck in Suez canal last year

The Guardian - US

Ever Forward ship still stuck in Chesapeake Bay after three weeks

Officials opt for new approach to moving vessel belonging to owners of Ever Given, which blocked Suez canal for a week

The Guardian - US

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The Independent UK

Suez Canal says transit fees for ships will increase in May

Egypt says it will increase transit fees for vessels, including oil-laden tankers, passing through Suez Canal

The New Daily

Deja vu: Evergreen container ship grounded again

Nearly one year after the cargo ship Ever Given captured worldwide audiences when it blocked the Suez Canal, a sister vessel is repeating the feat.

The Guardian - US

Ever stuck: Suez container ship’s cousin runs aground in US harbor

The 334-metre Ever Forward ran into trouble in the Chesapeake Bay, a year to the month after its cousin blocked the canal in Egypt

The Guardian - UK

False Prophets by Nigel Ashton review – Britain and the Middle East

A deft and fascinating account of British prime ministers’ flawed interventions in the region, from Suez to Iraq

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Edinburgh Live

New East Lothian town's first council houses delayed by Suez Canal blockage and Brexit

Blindwells is expected to have 1,600 new homes with further expansion planned in the future but difficulty with materials has caused some delays on the site

Asharq Al-Awsat

Suez Canal Expansion to Increase Two-Way Section by 10km

Works are under way to expand the two-way section of the Suez canal to 82 km (51 miles) from 72 km, the chairman of the authority managing the Egyptian waterway said on Tuesday. Suez Canal Authority Chairman Osama Rabie told a news conference that it would be too expensive to…

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