Egypt: Suez Canal revenues reach $552m in April gulfnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gulfnews.com Daily Mail and Mail on Sunday newspapers.
Synopsis
The proposed plan, outlined by Osama Rabie, would be to widen a 30-kilometer stretch by about 40 meters and deepen that area to 72 feet instead of the current 62 feet.
AP
President Abdel-Fattah El-Sisi said he doesn’t want to mobilize “huge” public funding for the project as the government did when expanding the canal years earlier.
Egypt’s Suez Canal Authority plans to widen and deepen parts of the waterway to improve the movement of ships in the area where a stranded container vessel blocked traffic in March, the its chief said Tuesday.
The proposed plan, outlined by Osama Rabie, would be to widen a 30-kilometer (18.6 mile) stretch by about 40 meters (131 feet) and deepen that area to 72 feet instead of the current 62 feet.
by Tyler Durden
Monday, May 10, 2021 - 09:50 PM
Egypt s Suez Canal Authority (SCA) offered to drop $300 million from its compensation claims against the owners of the Ever Given containership, according to Egypt Today.
The Panama-flagged Ever Given containership, owned by Japan s Shoei Kisen Kaisha, blocked the Suez Canal for six days in late March. SCA initially requested $916 million in damages for the blockage and continues to impound the ship 30 miles up the channel in the Great Bitter Lake.
Here s the current location of the containership as of 0645 ET.
The reduction of compensation claims was announced by the SCA Chairperson Admiral Osama Rabie on Friday. He told the MBC Masr channel that Egypt would continue to impound the vessel until the fine is paid. We ve noted the court battle between SCA and the vessel owners could be a long-drawn-out process.
48 days after the ship was unstuck from the canal, it had still hardly moved.
Egypt offered to drop $300 million from its claim against the owners of the Ever Given container ship, according to local media reports.
The change would drop the amount demanded from $916 million to about $600 million. Egypt is seeking damages over the six-day blockage the ship caused in the Suez Canal in late March.
The Suez Canal Authority (SCA) later impounded the ship in while its claim is taking place. It has been stationary in the Great Bitter Lake, a body of water along the canal some 30 miles from where the ship was stuck.