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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

VL-exit?

Earlier this week spot returns in the VLCC market touched their lowest level since October 2014, with TCE earnings for Middle East/Japan (TD3) falling close to $20,

RS Rules Conform to the IMO Goal-based Standards

The rules of the Russian Maritime Register of Shipping are in conformity to the International Maritime Organization (IMO)goal-based standards (GBS), the IMO’s Maritime

Asia Tankers-VLCC Rates to Climb Slowly

Around 47 MidEast charters fixed for July loading so far; older tonnage and new vessels a drag on freight rates. Freight rates for very large crude carriers

Navigation

World Trade Routes Won't be the Same with Expanded Panama Canal!

On 26th June 2016, a landmark development for the shipping industry will occur with the opening of the new third set of locks at the Panama Canal. Clarksons Research takes a look.

Expanded Panama Canal Nears Inauguration

As the global shipping industry facing tough weather, the $5.25 billion expansion of the Panama canal is set to open Sunday (June 26), reports AP. The deeper,

PGS, Radio Holland Expand Service Agreement

Norwegian marine geophysical company PGS has extended its non-exclusive service agreement with Radio Holland for navigation and communication services onboard nine seismic vessels in its global fleet.

 
 
Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Pipelines Port Authority Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | 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: 0.0629 sec (16 req/sec)