During the 14th Annual International Maritime Transport and Logistics Conference, Osama Rabie, head of the Suez Canal Authority, reported that 47 ships have rerouted through the canal this month, signaling renewed stability in the Red Sea. He urged collaborative efforts to tackle security challenges impacting global supply chains.
A massive fire broke out in an Egyptian shipyard near the Suez Canal, destroying fishing boats and pleasure craft. Despite six hours of firefighting efforts, the blaze was challenging to contain due to flammable materials. No fatalities were reported, but three individuals were hospitalized. Authorities are investigating the cause and assessing the damage.
The International Maritime Organization (IMO) has opened a Regional Presence Office (RPO) in Alexandria, Egypt for the Middle East and North Africa (MENA) region. This office will provide technical assistance in maritime safety, security, and environmental sustainability. High-level dignitaries attended the launch event, emphasizing the importance of addressing regional challenges and promoting global maritime trade.
Egypt is set to receive a $1.2 billion disbursement from the International Monetary Fund this month as part of an $8 billion program. The decision to expand the program was made by Egypt to address economic challenges like high inflation and foreign currency shortages. The country aims to secure around $3 billion through investor offerings.
Vyron Vasileiadis, Chairman of APE owner V Group, unveiled a groundbreaking project focusing on solid waste collection from ships in waiting areas. The plan includes establishing a waste-derived fuel plant for green hydrogen production. A strategic partnership with key players in the sector highlights a holistic approach to sustainable practices in the maritime industry.
Egypt recently conducted a successful test of a new channel near the southern end of the Suez Canal. The trial run saw two ships passing through without incidents, aiming to increase the canal’s capacity by 6 to 8 ships daily. The expansion comes after a drop in revenue due to attacks by Yemen’s Houthi militants.
Over the past 20 months, three accidents involving British citizens aboard Egyptian submersibles in the Red Sea have caught the attention of the UK’s Marine Accident Investigation Branch (MAIB). These incidents, including capsizing and a fatal fire, have raised concerns about the safety of submersible operations and the need for stricter regulations.
Local officials reported that the dive tour boat Sea Story issued a distress call at 05:30 local time. The Egyptian military launched search and rescue operations off Marsa Alam, rescuing 28 individuals with minor injuries. Unfortunately, some passengers were trapped as the boat sank. The incident emphasizes the importance of swift response.
The vessel Sounion is undergoing an offloading operation near the Suez Canal in Egypt, aided by the tug Aigaion Pelagos and the tanker Delta Blue. Despite previous attacks on Delta Blue, the operation is progressing smoothly, with 150,000 tonnes of oil still to be transferred.
A sharp drop in Suez Canal revenue due to sea attacks by Yemen’s Houthis has exacerbated Egypt’s economic crisis, putting pressure on foreign exchange sources and increasing the urgency for reforms and international assistance. Declining remittances, budget deficits, and the printing of money have further contributed to Egypt’s economic woes.
The luxury cruise ship Silver Moon has diverted away from the southern Red Sea, altering its current cruise itinerary and canceling upcoming cruises. The decision was made due to the changing situation in the region, with the ship now heading north to Egypt and potentially facing the cancellation of five months of scheduled cruises.
