Cairo, Egypt -- Egypt has tested a new 10-kilometre (6.2-mile) extension to the Suez Canal as it tries to minimize the impact of currents on shipping and increase the key waterway's capacity. Two ships used the new extension on Saturday, a statement from the Suez Canal Authority said. Authority chief Osama...

Yemen's government also said earlier Saturday that the ship which was departed UAE and was bound for the Bulgarian port of Varna, had sunk. Since November, the Houthis have been carrying out attacks on ships linked to Israel in the Red Sea and the Gulf of Aden, saying they are...

The Houthis, who control war-torn Yemen's most populated areas, have previously reported the death of 17 of their fighters in the Western strikes targeting military facilities. The Houthi attacks have had a significant effect on traffic through the busy Red Sea route, forcing some companies into a two-week detour around...

Friday's strike came as a US decision in January to redesignate the Houthis as "terrorists" formally came into force. The designation would not prohibit "the shipping of commercial goods into ports and airports in Houthi-controlled areas," the State Department spokesperson said.

World Bank President Ajay Banga said that "what's going on Gaza, but also the challenges of Ukraine... and the Red Sea" are among the top challenges to the global economic outlook. "When you add variables to what is turning out to be probably the lowest growth of the last 55...

Egypt begins 2024 with steep increases in essential services' prices, exacerbating the economic strain on its citizens amidst a broader economic crisis.

Paris, France - World oil supply will continue to rise this year, the International Energy Agency said on Thursday, as it predicted that demand growth would continue a downward slide throughout 2024. The Paris-based IEA, which advises oil-consuming nations, said it expects increase in global oil demand to halve from 2.3...

Cairo, Egypt - Egypt Saturday said that navigation movement in the canal is regular from both directions, Chairman of the Suez Canal Authority Lieutenant General Osama Rabie denied allegations of any temporary suspension of navigation due to the situation in the Bab al-Mandab.‏ ‏In a statement, the Chairman of the...

The announcement came hours after a British-navy maritime security agency said armed men boarded the Greek-owned, Marshall Islands-flagged St Nikolas off Oman and changed course towards Bandar-e-Jask in Iran. Four or five "unauthorized boarders are reported to be wearing military-style black uniforms with black masks", the United Kingdom Maritime Trade Operations...

The man-made waterway - which officially opened in 1869 - is crucial for Egypt, earning it $9.4 billion in transit fees in the fiscal year 2022/23. Since the Iran-backed Houthis began attacking ships in response to Israel's bombardment of the Gaza Strip, companies have opted for the far longer route...

The Houthis say they are targeting Israel and Israeli-linked vessels to push for a stop to the offensive in Gaza. The attacks are endangering a transit route that carries up to 12% of global trade, prompting the US to set up a multinational naval task force to protect Red Sea...

The task force announced by US Defense Secretary Lloyd Austin on Monday initially included Britain, Bahrain, Canada, France, Italy, the Netherlands, Norway, Seychelles and Spain. The Iran-backed Houthis say their missile and drone strikes on passing container ships are in support of Palestinians in the Gaza war raging between Israel...

The latest warning comes amid heightened tensions in the Red Sea and surrounding waters following a series of maritime attacks by Houthi rebels since the start of the Israel-Hamas war on October 7. In a statement posted on social media, the Houthis said they "will prevent the passage of ships...

With Suez Canal's pivotal role in global commerce, any disruption may send shockwaves through markets worldwide, challenging the resilience of international supply chains.

Recent developments spark concerns that the conflict, which is spreading across the region, presents a long-term threat to global energy and commercial infrastructure.

At the G20 Summit in New Delhi, the US, EU, Saudi Arabia, and UAE have launched an ambitious trade initiative to connect railways, ports, and energy networks globally.

Cairo, Egypt--Shipping traffic was flowing normally on Egypt's Suez Canal on Wednesday, two shipping sources based in the country said, after two tankers that collided earlier were separated. The two tankers, the Singapore-flagged liquefied natural gas (LNG) carrier BW Lesmes and the Cayman Islands-flagged oil products tanker Burri, briefly collided...

"The United Nations has begun an operation to defuse what might be the world's largest ticking time bomb," UN Secretary-General Antonio Guterres said in a statement. "A complex maritime salvage effort is now underway in the Red Sea off the coast of war-torn Yemen to transfer one million barrels of...

Cairo, Turkey – Suez Canal revenue surged by 35 percent to $9.4 billion in the financial year 2022-23, up $7 billion from the previous year, Suez Canal Authority (SCA) Chairman Osama Rabie said on Wednesday. Addressing a press conference on Wednesday, Rabie attributed the Suez Canal's revenue increase to the...

Traffic in both directions returned to normal after a brief disruption when the Malta-flagged Seavigour experienced a "machinery malfunction" while en route from Russia to China, Three tugboats "successfully towed and moored the ship" at a shipyard where the technical fault will be fixed before the tanker "resumes its crossing".

ISMAILIA, EGYPT -  A cargo ship ran aground on Thursday in Egypt's Suez Canal before it was quickly refloated without interrupting traffic, the authority in charge of the vital waterway said. The Hong Kong-flagged Xin Hai Tong 23 bulk carrier was refloated after "a sudden malfunction of the machinery" while it...

The incident involving the 225-metre-long Marshall Islands-registered M/V Glory had briefly sparked fears of a repeat of a major 2021 blockage when the giant container ship Ever Given became diagonally wedged in the canal. That week-long closure of the man-made waterway cost billions of dollars through shipping delays.

Three Egyptian policemen were killed in the attack, the first of its kind in nearly three years in mainland Egypt, which has largely been spared the deadly insurgency in the nearby Sinai peninsula.

Medical sources confirmed the casualty toll from the attack, for which there was no immediate claim of responsibility. In the past few years, attacks against security forces have been concentrated in the restive Sinai, where jihadists affiliated with the Islamic State group continue to operate. Eleven soldiers were killed on...

Cairo, Egypt-- Egypt plans to raise fees for ships passing through the Suez Canal by 15 percent in 2023, the Canal Authority's Chairman Osama Rabie has said. According to media reports, Rabie said transit fees for bulk and tourist ships will be raised by 10 percent and will be applicable...

According to website Vessel Finder, the 250-meter-long, Singaporean-flagged tanker is headed for the Saudi port of Yanbu.

Canal Authority Chairman Osama Rabea said that the Canal reached its highest monthly transit rate of 2,103 ships, as well as monthly net tonnage of 125.1 million tonnes.

On February 14, 1945, the two countries' partnership is sealed during a historic meeting between king Abdel Aziz bin Saud and president Franklin D Roosevelt.

Egypt is expecting to rake in $3.5 billion in revenues from the Suez Canal during the first half of 2022, according to Osama Rabie, the chairman of the Suez Canal authority. 

Suez Canal posted twenty percent increase in revenue in the first quarter of 2022 despite the Russian-Ukraine war disturbing the global supply chain.

The Ever Forward ran aground in the Chesapeake Bay in the US.

The key trading link is setting new records, said the government, quoting the Suez Canal Authority.

The Suez Canal has seen a fifteen percent jump in business as ships carrying wheat and gas have filled the waterway in recent months.

Egypt's Suez Canal Authority announced Tuesday additional tolls for transiting vessels including fuel tankers, as oil prices soar in the wake of Russia's invasion of Ukraine. Petroleum gas tankers will see a 10 percent hike on passage fees while liquefied natural gas carriers and general cargo ships will incur a...

The revenues rose by $720 million, or 12.8 percent, in 2021 compared to 2020 when they were $5.6 billion.

Egypt's Suez Canal Authority said the key waterway netted record revenues last year, despite the coronavirus pandemic and a six-day blockage by giant cargo ship the Ever Given. Connecting the Red Sea and the Mediterranean, the canal accounts for roughly 10 percent of global maritime trade and is a source...

The five-day maneuvers in the Red Sea, which is linked to the Mediterranean through the Suez Canal, are intended to "enhance interoperability between participating forces", US Navy said.

Ever Given, the ship that caused the closure of the Suez Canal for six long days in March, has crossed the waterway on Friday for the first time since it left Egypt after the incident.

Egypt and Russia have signed a deal to allow the latter to expand its industrial zone within the Suez Canal Economic Zone (SCZone).  The final agreement is expected to be signed by the end of 2021.

Suez Canal Authority reached a final deal on compensation Cairo lost between $12m-$15m in revenues for each day of blockage  CAIRO: Egypt is set to release the MV Ever Given on Wednesday, over 100 days since the megaship was refloated after blocking the Suez Canal for six days, crippling global...

The 200,000-tonne MV Ever Given got stuck diagonally across the canal during a sandstorm on March 23 Egypt retained the ship seeking compensation from Japanese firm Shoei Kisen Kaisha for lost canal revenues The megatanker Ever Given that Egypt has retained since it blocked the Suez Canal in March is...

*Egypt slashed its initial claim for $900m to $550m *Final deal expected by the middle of next week Egypt has signed a non-disclosure agreement with the Japanese owner of a megaship that blocked the Suez Canal in March as it finalizes a compensation agreement, the canal authority chief said. Egypt...

The blockage that lasted a week had disrupted global shipping Details of the deal have not yet been disclosed     Egyptian authorities and the owners of the container ship that blocked Suez Canal back in March have reached a settlement, media reports said on Wednesday. Details of the deal...

The Suez Canal Authority (SCA) claimed more than $916 million in damages, but out-of-court negotiations lowered the figure to $550 million

The court refers the dispute between the Suez Canal Authority and Ever Given to a lower court The ship company blames the canal authority for the vessel’s grounding An Egyptian appeals court, according to media reports, on Sunday said it lacks jurisdiction to look into the Suez Canal Authority’s demands...