Egyptian Crisis: Could it Spill into the Suez Canal?

Sunday, January 30, 2011

As analysts continue to try and gauge the full economic impact of the fast-evolving political and social crisis in Egypt, the concern of the shipping industry are centered on the Egypt controlled Suez Canal, a transport route for a substantial amount of the world's energy, with more than 35,000 ships passing through the Suez annually, approximately 2,700 of them tankers.
Worries regarding potential canal disruption stem in part from the the Egyptian government's cut-off Internet and mobile telephone service in the country on Friday.
Shares in tanker companies surged on Friday on fears of a Suez shutdown. If that were to happen, many ships would have to make more costly trips around the southern tip Africa to reach their destinations, yielding more revenue for the shipping interests.
(Staff and wire reports, including http://www.voanews.com)

Maritime Reporter November 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

Oil is on the Rise

Oil prices rose in early trading on Monday as Asian markets opened strongly into a holiday-shortened week and as consensus spread that Brent crude prices would

Larger Tankers May Offer Better Return Chances

Investors looking for returns in the tanker markets can invest their capital in a variety of ways. Should an owner invest in a VLCC or an Aframax? How about an

Benghazi Port Still Closed, Imports Rerouted

The commercial port in Libya's second city, Benghazi, remains closed due to fighting between pro-government and Islamist forces, forcing wheat imports to make a detour via Tobruk harbour,

Navigation

NZ Report: Human Error to Blame for Rena Grounding

New Zealand's Transport Accident Investigation Commission (TAIC) published its final report into the grounding of containership Rena in October 2011. The TAIC’s

The Economic Impact of Inland Waterway Investment

A recently released study entitled INLAND NAVIGATION IN THE UNITED STATES evaluates the economic impacts and the potential effects of infrastructure investment on our economy.

Transas Installs ECDIS Simulators at Romanian University

Romanian university Constanța Maritime University will provide ECDIS training in accordance with the STCW 2010 requirements    Transas Marine has installed the

 
 
Maritime Careers / Shipboard Positions Maritime Standards Pipelines Port Authority Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1155 sec (9 req/sec)