Suez Canal Authority
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
Chairman and Managing Director of the Suez Canal Authority, Admiral Ossama Rabiee has announced the Authority’s readiness to cooperate with its client shipping lines and shipping agencies to minimize the impact of the current situation in the Red Sea
The authority reported that 2,128 vessels have crossed the canal since November 19, with only 55 vessels having been rerouted via the Cape of Good Hope
Osama Rabie, Chairman of the Suez Canal Authority, emphasized the normal flow of navigation through the Suez Canal, stating that the authority is closely monitoring the potential repercussions of ongoing tensions in the Red Sea on the canal's traffic.
It hit a floating bridge.
The number of ships passing through the Canal during November 2023 also saw growth, totaling 2264, compared to 2171 in November 2022. This represents a 4.3 percent increase in ship traffic
Additionally, the Suez Canal Authority, in a navigational circular, approved a 5 percent increase in regular transit fees for dry bulk cargo ships, general cargo ships, and roll-on/roll-off ships, among others.
The newly approved rate hikes are targeted towards several vessel types.
Rabie assumed the position of the SCA chairperson in August 2019 as a successor to former Chairperson Mohab Mamish, who became an advisor to the president for seaports.
He noted that the Russian-Ukrainian war has no impact on the trade movement, and this is an indication of the important role of the canal as a major trade corridor globally.
Suez Canal Authority (SCA) announced Tuesday the success of the operation to recover the sunken tugboat that collided with a giant tanker in the Suez Canal “Fahd”.
For his part, Miltiadis Varvitsiotis said that the Suez Canal will remain one of the strategic axes of the global trade movement, praising the canal's integrated vision in developing its capabilities to play its vital role optimally.
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