CAIRO: Egyptian President Abdel Fattah El-Sisi has said that revenues from the Suez Canal have “decreased by 40 to 50 percent” so far this year due to attacks on shipping by Yemen’s Houthi rebels, according to Agence France Presse. The canal is one of the main sources of foreign currency for Egypt which is gripped by a severe … Read more
SINGAPORE: Oil prices climbed on Monday after a drone attack on US forces in Jordan added to worries over supply disruption in the Middle East as Houthi rebels stepped up their attacks on vessels in the Red Sea, hitting a Trafigura-operated fuel tanker, according to Reuters. Risks of a widening conflict comes as Russian refined … Read more
RIYADH: Shipping volume in the Suez Canal dropped 28 percent year on year in the 10 days ending Jan. 2, official data has revealed. Latest figures released by the International Monetary Fund’s PortWatch platform shows that disruptions in the Red Sea have increased in recent weeks, putting vital trade flows at risk. On the other … Read more
OSLO: Denmark’s Maersk said on Wednesday it has scheduled several dozen container vessels to travel via the Suez Canal and the Red Sea in the next several weeks, in a further sign that global shipping firms are returning to the route. The schedule remains subject to change based on specific contingency plans that may be … Read more
PARIS: An unexpected strike by French workers at Eurotunnel, the undersea link between Britain and continental Europe, interrupted cross-Channel rail traffic on Thursday, threatening the Christmas holiday plans of many travelers.The protest over bonus pay caused massive disruptions on the busy London-Paris route. Some trains had to return to the French capital just before reaching … Read more
DUBAI: Egypt’s Suez canal authority chief said on Sunday the authority is closely monitoring the current tensions in the Red Sea. The authority is “closely following the consequences of current tensions in the Red Sea on the traffic in the canal,” Chairman Osama Rabea said in a statement, adding that maritime traffic in the canal is … Read more