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The Latest Breaking News from Suez Canal

Suez Canal Records All-time Highest Monthly Revenue

Egypt’s Suez Canal revenue reached $704 million in July, Canal Authority Chairman Osama Rabea said on Tuesday. The figure represents a 32.4% increase from the same month last year, when the canal only recorded $531.8 million. The canal is the fastest shipping route between Europe and Asia and one of…

Asharq Al-Awsat

US to Reward Tips on Illicit Cargos in the Middle East

The US Navy will for the first time reward individuals for providing information that leads to the seizure of illicit cargos such as illegal weapons or narcotics in waters across the Middle East, it said on Tuesday. The US Naval Forces Central Command (NAVCENT), which is headquartered in Bahrain and…

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

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Egypt to Manufacture 75,000 Vehicles Annually in SCZone

Egypt unveiled Tuesday a national strategy for the automotive industry in the country. Prime Minister Mostafa Madbouly announced the National Strategy for the Development of the Automotive Industry, which was launched from East of Port Said in the Suez Canal Economic Zone (SCZone). Madbouly also witnessed the signing of a…

Asharq Al-Awsat

Egypt's Suez Canal Extends Rebates for LNG, LPG Carriers Until End-2022

Egypt's Suez Canal has extended rebates on canal tolls for liquefied petroleum gas (LPG) and liquefied natural gas (LNG) carriers from July until the end of the year, the canal authority said in circulars published on its website. LPG tankers operating between the American Gulf and ports west of India,…

Asharq Al-Awsat

Egypt's SCZONE Signs MoU on $4bln Waste-to-Hydrogen Plant

Egypt's Suez Canal Economic Zone (SCZONE) and H2-Industries have signed a memorandum of understanding (MoU) to build a waste-to-hydrogen facility at a greenfield site in east Port Said with an estimated cost of $4 billion, an SCZONE statement said on Wednesday. The project targets production capacity of 300,000 tons of…

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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Egypt, U.S. eye counter-terrorism ties in wake of deadly Sinai attack

Egyptian President Abdel Fattah al-Sisi expressed hopes for deeper U.S. counter-terrorism ties during talks with a top American general on Monday, following a deadly weekend attack by militants in the Sinai peninsula, a U.S. military official said on Monday.

Reuters

Islamic State claims attack that killed 11 Egyptian troops

An Islamic State affiliate in Egypt is claiming responsibility for an attack that targeted a water pumping station east of the Suez Canal, killing at least 11 soldiers

The Independent UK

US Condemns Egypt Terrorist Attack

The US has condemned a deadly terrorist attack on the Suez Canal zone abutting Egypt’s Sinai Peninsula. Eleven Egyptian soldiers were killed and five soldiers were wounded in the firefight on the eastern bank of the canal, the army said, adding security forces were "continuing to chase the terrorists and…

Asharq Al-Awsat

Egypt Says 11 Troops Killed in Militant Attack in Sinai

Egypt’s military says at least 11 troops, including an officer, have been killed in a militant attack in the restive northern part of the Sinai Peninsula. The military said in a statement that the militants attacked a water pumping station Saturday east of the Suez Canal. The statement said security…

Asharq Al-Awsat

Eleven Egyptian security personnel killed after foiling "terrorist attack" - army spokesman

One officer and ten Egyptian soldiers were killed after "foiling a terrorist attack" on a water-lifting station east of the Suez Canal, an army spokesman said on Saturday.

Reuters

Suez Canal chief says April revenues hit all-time record

Egypt’s Suez Canal says its monthly revenues have hit an all-time record, raking in $629 million in April

The Independent UK

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

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The Guardian - US

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

Asharq Al-Awsat

Suez Canal Revenues Register 20% Increase in 3 Months

The Egyptian Suez Canal Authority (SCA) said on Saturday that the canal recorded revenues of $1.69 billion in the first quarter of 2022, up from $1.4 billion in the same period last year. Osama Rabie, the head of the SCA, said that figures showed a “remarkable” rise in the number…

Asharq Al-Awsat

Egypt Inks Deal to Further Accelerate Supply of Green Fuels

Egypt signed on Monday a Memorandum of Understanding (MoU) with Maersk in a joint bid to further accelerate the supply of green fuels for ships as part of the shipping industry’s transition to net-zero. Egyptian Prime Minister Mostafa Madbouly witnessed the signing of the deal with the General Authority for…

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

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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…

Asharq Al-Awsat

Cargo Ship Runs Aground in US, a Year after Sister Vessel Blocked Suez Canal

The Ever Forward container ship is currently grounded in the Chesapeake Bay near Baltimore, according to the US Coast Guard, nearly a year after another ship run by the same company blocked the Suez Canal for six days. The container ship is operated by Evergreen Marine Corp Taiwan Ltd, the…

Evening Standard

Ever Given’s sister vessel Ever Forward runs aground in US

The container ship the Ever Forward has run aground in the US, following in the footsteps of its sister vessel the Even Given after it infamously got stuck in the Suez Canal for six days last year.

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 Independent UK

Ever Forward: Cousin of container ship which got stuck in Suez Canal runs aground off US coast

Ever Given blocked Suez Canal for almost a week, causing a backlog of 400 container ships and delays in the global supply chain

Daily Mirror

Huge cargo ship blocks US harbour forcing other vessels to use slow one-way route

The 334-metre Ever Forward became stuck close to the US capital, almost a year after its cousin - the infamous Ever Given ship - blocked the Suez Canal in Egypt

Asharq Al-Awsat

Egypt, Norway’s Scatec Sign MOU on Green Ammonia Project

Egypt has signed a memorandum of understanding for a $5 billion project with Norway’s Scatec (SCATC.OL) to build its first green ammonia plant in the Suez Canal Economic Zone, the cabinet said on Thursday. The green ammonia plant near the Red Sea port and industrial zone of Ain Sokhna would…

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