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Suez Canal traffic data showed that 284 ships transited the canal, with a total load of 14.34m tonnes, from 19 to 24 August 2016, reports Daily News Egypt. Compared to July 2015, before the inauguration of the New Suez Canal, the average daily number of transiting vessels totaled 47 vessels, with an average load of 2.76 million tonnes per day. The number of vessels that passed through the new canal coming from the west through the northern entrance was 135, with a daily average of 27 vessels, and a total load of 7.65m tonnes, recording a daily average of 1.27m tonnes. Meanwhile, 149 ships transited the canal coming from the south, with a daily average of 25 vessels, and a total load of 9.26m tonnes, recording a daily average of 1.54m tonnes.

The Suez Canal traffic data reported that 341 ships traverse the Suez Canal with a total cargo load of 18.88m tonnes from from 4 to 10 March 2016, as per a report in the Daily News Egypt. An average of 48.7 ships transited the canal per day during the past week, with an average load of 2.7m tonnes per day. The average load per ship was about 55,360 tonnes during that period. Prior to the inauguration of the New Suez Canal in July 2015, there was a daily average of 47 vessels transiting the canal, with an average load of 2.758m tonnes per day. Last week, three Danish container ships – Marstal Maersk, Mette Maersk and Matz Maersk – transited the canal with 200,360 tonnes each.

The traffic developments through the Suez Canal showed the change in each type of transient and cargo ships, which gives an indication of the future of traffic in the canal, according to analysis conducted by Daily News Egypt. According to data, the contradiction between the low number of vessels and higher payloads shows a tendency to rely on bigger ships to save costs. The Suez Canal will have to cope with this development and maintain an appropriate depth to meet the requirements of these larger vessels. The Suez Canal succeeded in raising the number and tonnage of ships gradually over the past three years, with 16,596 vessels registered in 2013 at a total of 915.467m tonnes. In 2014, 17,148 ships transited the canal with a total of 962.748m tonnes.

Chairman of the Suez Canal Authority (SCA), Vice Admiral Mohab Mamish, signed a settlement agreement with the Suez Canal Container Terminal (SCCT-Maersk), says Daily News Egypt. Egypt is also planing to complete a side channel in East Port Said, near the Suez Canal. The agreement came at the behest of Egyptian President Abdel Fattah Al-Sisi to resolve outstanding matters with the company, in order to begin the development of East Port Said Port within the general outline of the canal development project. SCCT-Maersk has been working in the East Port Said Port at the Maritime Training and Simulation Centre in Ismailia. The agreement provides for General Authority and Suez Canal Economic Zone to take back area of 225,000sqm for benefit of national economy.

A total 336 ships transited the canal last week, carrying a total cargo of 19.5m tonnes, reports Daily News Egypt quoting new data from the Suez Canal. The average number of ships transiting the canal daily reached 48 throughout last week, with average cargos amounting to 2.8m tonnes per day, whereas the average cargo per ship reached 58,000 tonnes. The number of ships transiting the canal from the northern direction reached 147 ships, representing a daily average of 21 ships, totalling 8.1m tonnes in cargo, or a daily average of 1.2m tonnes. The largest cargo held within one ship transiting Suez Canal last week reached 200,000 tonnes. A total of five other separate container ships belonging to Danish company, Maersk, carried the same tonnage.

The Egyptian Natural Gas Holding Company (EGAS) signed an initial agreement with Russian company Rosneft to supply oil products and liquefied natural gas (LNG) shipments. The document defines key terms of the future cooperation between the companies in the area of LNG supplies. The implementation of the terms of the signed document will allow Rosneft to access the high growth potential Egyptian gas market and deepen broader cooperation between the two companies. Minister of Petroleum…

Banque du Caire received Suez Canal investment certificates on Tuesday, according to an official source at the bank, and the certificates will probably be available for the public by Thursday or at the beginning of the next week, reports 'Daily News Egypt'. The investment certificates will be issued at the values of EGP 10, EGP 100, EGP 1,000 with a five year maturity and a 12% interest rate. The CBE governor announced that the interest on the EGP 1,000 certificates can be collected on a quarterly basis. However, the interest on investment certificates between EGP 10 and EGP 100 will be cumulative – redeemed at the end of the five year period.

The Suez Canal Authority (SCA) raises toll fees by 5% for oil tankers & petrochemical products, 2% for container ships & car carriers effective 1, May 2013. News of the latest rise in tolls follows last year's SCA increase of a 3% rise for all ships passing through the canal. Suez Canal revenues have become more important because the country’s foreign currency reserves have shrunk from $36bn since the eve of the 25 January Revolution to $13.5bn, reports the 'Daily News, Egypt'. Egypt received $398.5m in revenues from the Suez Canal in March 2013, according to a recent statement made by the SCA. Source: Daily News, Egypt