Suez Canal

The Suez Canal netted Egypt a record $5.84bn in the last tax year, despite the coronavirus pandemic’s effect on world trade as well as a six-day blockage of the busy waterway by a giant cargo ship. “Despite various challenges,…

The container ship that blocked the Suez Canal in March and has been detained there since is due to finally resume its journey on Wednesday after the owner and insurers reached a compensation settlement with the canal authority. One of the…

An Egyptian court has adjourned a case over the giant ship that blocked the Suez Canal, to allow the waterway’s operator some time to assess the latest offer of financial compensation. The court in the city of Ismailia said the next…

The cargo vessel that blocked global shipping in the Suez Canal and is caught in a legal dispute in Egypt is fit to sail once approval is given, its technical manager said on Wednesday. The Suez Canal Authority (SCA) said on Wednesday…

The head of the Suez Canal Authority, Lieutenant General Osama Rabie  on Thursday praised the salvage team who worked to free the colossal container ship wedged in the canal at a ceremony in Ismailia. He told the team that it was "a…

The price of Nigeria’s Bonny Light dropped to $62.05 per barrel from $64.50 in the international market on the heels of the reopening of the Suez Canal for business. The blockage of the Canal by a container vessel for over one week had…

Oil fell 1% on Monday, after a container ship that blocked the Suez Canal for nearly a week was refloated and traffic in the waterway resumed. Prices also dropped as fuel demand in Europe remained weak after countries renewed lockdowns…

The  Ever Given Ship stuck in the Suez Canal for almost a week has been refloated and the canal open for international trade. The Ever Given ship was successfully turned by an Egyptian crew in the Suez Canal early Monday morning, after…

A massive container ship blocking Egypt's Suez Canal for nearly a week has been partially refloated, the Suez Canal Authority (SCA) said, raising hopes the busy waterway will soon be reopened. The 400-metre (430-yard) long Ever Given…

The company that owns the giant container ship stuck sideways across the Suez Canal said an attempt will be made to refloat the vessel by taking advantage of tidal movements later Saturday. Shoei Kisen said in a statement Saturday that…