Page 31 - Suez News Today

Southern California's twin ports could see more freight business as shippers seek new routes away from problems at the Suez Canal and the Panama Canal.

CAIRO, Jan. 12 (Xinhua) -- Chairman of Egypt's Suez Canal Authority (SCA) Osama Rabie said on Friday that navigation traffic in the canal is regular in both directions. In a statement, Rabie denied reports about the temporary suspension of navigation in the Suez

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Egypt signed with a consortium led by ACWA Power an agreement for a 1.1-gigawatt wind energy production project in the Gulf of Suez and Gabal El-Zeit regions, with $1.5 billion in investments, the Egyptian cabinet stated Wednesday. The agreement was signed between the Egyptian New and Renewable Energy Authority (NREA) and ACWA Power-led consortium that also includes Hassan Allam Utilities.

Egypt has signed a 25-year land usufruct agreement (legal right granted to a person or party which grants a temporary right to use/derive income/benefit from the property of another individual) for a colossal wind power project. The agreement, signed between the consortium led by Saudi-listed ACWA Power and the Egyptian New and Renewable Energy Authority

Egypt expects the wind turbine project developed in collaboration with ACWA Power to save about 840,000 tonnes of fuel each year.

Revenues from Egypts Suez Canal are down 40% from the beginning of the year compared to 2023, canal authority head Osama Rabie said on Thursday, after attacks on ships by Yemens Houthis caused major... -January 11, 2024 at 05:02 pm EST - MarketScreener

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We may well sail through 2024 relatively unscathed. Yet the potential for trouble is there. It is just a question of whether one of these key risks materialises.

Attacks by Yemens Huthi rebels in the Red Sea have caused shipping companies to avoid the Suez Canal -- a key source of revenue for Egypt as it battles a deep economic crisis.