Tag: Shipping

For Erodgan’s Istanbul Canal project, critics see few winners
News

For Erodgan’s Istanbul Canal project, critics see few winners

Istanbul, Turkey – Some 500 years ago, Sultan Suleiman the Magnificent pondered building a ship canal to bypass the Bosphorus. Now that dream is close to being realised with the latest and most ambitious of Turkey’s “megaprojects” launched under President Recep Tayyip Erdogan. The plan to construct a 25-mile (40-kilometre) waterway skirting the north of Istanbul to connect the Sea of Marmara to the Black Sea has been given the go-ahead, with work scheduled to begin this summer, in mid-2021. With an estimated build time of seven years and a price tag ranging from $9.3bn to $14.6bn, according to government estimates, the Istanbul Canal has been framed by its supporters as a smart investment that will pay returns in the form of shipping revenues and reduced traffic in the Bosphorus Strait. Bu...
Russia to close parts of Black Sea near Crimea for six months
News

Russia to close parts of Black Sea near Crimea for six months

Ukraine and the EU condemn Russia’s decision to restrict the navigation of foreign military and official ships.Russia will restrict the navigation of foreign military and official ships in parts of the Black Sea until October, according to a Russian news agency, prompting swift condemnation by Ukraine and the European Union. The announcement on Friday comes amid tensions between Moscow and Kyiv that have escalated in recent weeks after an uptick in fighting between Ukraine’s army and pro-Russia separatists in eastern Ukraine. Russia has massed its troops along Ukraine’s northern and eastern borders and on the Crimean peninsula, which Moscow annexed from Ukraine in 2014. This week Russia also conducted navy drills in the Black Sea. “From 21:00 on April 24 until 21:00 on October 31, passage ...
Iranian vessel attacked in the Red Sea: Reports
News

Iranian vessel attacked in the Red Sea: Reports

The semi-official Iranian news agency Tasnim said the Saviz ship was targeted by limpet mines.The Iranian vessel, Saviz, was targeted by limpet mines in the Red Sea, the semi-official news agency Tasnim reported on Tuesday, citing information obtained by its reporter. “The vessel Iran Saviz has been stationed in the Red Sea for the past few years to support Iranian commandos sent on commercial vessel (anti-piracy) escort missions,” Tasnim reported. Al Arabiya TV cited unnamed sources as saying the vessel was attacked off the coast of Eritrea and was affiliated with Iran’s Revolutionary Guards, but provided no evidence to support the assertion. There was no immediate official Iranian reaction to the incident. It was the latest in a reported series of attacks on Israeli and Iranian-owned shi...
Suez canal ends shipping backlog
News

Suez canal ends shipping backlog

Chairman of the Suez Canal Authority said 85 ships expected to pass the canal from both sides on Saturday.Suez Canal Authority (SCA) has said that all 422 ships stranded by the grounding of the giant container ship Ever Given passed through the canal by Saturday, ending the backlog caused by the blockage Osama Rabie, chairman of the SCA, said 85 ships were expected to pass the canal from both sides on Saturday. They include the last 61 ships out of the 422 that were queueing when the Ever Given was dislodged on Monday, ending the backlog of shipping that built up during the crisis, he added. International supply chains were thrown into disarray when the 400-metre-long (430 yards) Ever Given ran aground in the vital trade artery on March 23, with specialist rescue teams taking almost a wee...
Experts examine bottom of big ship that was stuck in Suez
News

Experts examine bottom of big ship that was stuck in Suez

CAIRO (AP) — Experts dived under a colossal container ship that had been stuck for nearly a week in the Suez Canal before it was freed, to examine the vessel’s underside, officials said Wednesday. The dives were part of a continuing investigation into what caused the grounding of the Ever Given, now anchored in the Great Bitter Lake, a wide stretch of water halfway between the north and south ends of the canal.Salvage teams succeeded in finally freeing the skyscraper-size vessel on Monday afternoon.The ship got stuck sideways in a narrow stretch of the canal, shaking the global shipping industry when it halted billions of dollars a day in maritime commerce for around a week.Two senior canal officials, speaking on condition of anonymity because they were not authorized to talk to reporters,...
Suez crisis creates winners and losers in the global supply chain
News

Suez crisis creates winners and losers in the global supply chain

Piraeus, Greece – For someone who was losing $30,000 a day, Greek shipowner Yiorgos Gourdomihalis sounds very sanguine. Hours before the Suez Canal shut down last week when one of the world’s largest container ships became wedged in the globally crucial waterway, the CEO of Phoenix Shipping and Trading had clinched a lucrative deal. The so-called time charter – an agreement between a shipowner and a charterer who wants to use a cargo ship for a specified period – would have made his company nearly half a million dollars. But the deal fell through when the 400-metre (1,312-foot) Ever Given ran aground on March 23 while entering the canal from the Red Sea, blocking hundreds of ships at either end of the waterway that carries an estimated 12 percent of the world’s trade. “Our charterers did n...
Probe underway, day after cargo ship freed in Suez Canal
News

Probe underway, day after cargo ship freed in Suez Canal

SUEZ, Egypt (AP) — Experts on Tuesday boarded a colossal container ship that had been stuck sideways for nearly a week in the Suez Canal before it was dislodged as questions swirled about the grounding that had shaken the global shipping industry and clogged one of the world’s most vital waterways. The Ever Given was safely anchored Tuesday in the Great Bitter Lake, a wide stretch of water halfway between the north and south ends of the canal, after salvage teams succeeded in finally freeing the skyscraper-size vessel on Monday afternoon. The grounding of the ship had halted billions of dollars a day in maritime commerce.A senior canal pilot, speaking on condition of anonymity because he was not authorized to talk to journalists, told The Associated Press that experts were looking for sign...
Traffic in Suez Canal resumes after stranded ship refloated
News

Traffic in Suez Canal resumes after stranded ship refloated

Shipping traffic through Egypt’s Suez Canal resumed on Monday after a giant container ship that had been blocking the busy waterway for almost a week was refloated, the canal authority said. Live footage on a local television station showed the ship surrounded by tug boats moving slowly in the centre of the canal. The station, ExtraNews, said the ship was moving at a speed of 1.5 knots (2.8kmph). “Admiral Osama Rabie, the Chairman of the Suez Canal Authority [SCA], announces the resumption of maritime traffic in the Suez Canal after the Authority successfully rescues and floats the giant Panamanian container ship EVER GIVEN,” a statement from the SCA said. “She’s free,” an official involved in the salvage operation said. The 400-metre long Ever Given got jammed diagonally across a southern...
Ever Given partially refloated in Suez Canal: Live news
News

Ever Given partially refloated in Suez Canal: Live news

The giant container ship has been stuck for a week, blocking one of the world’s busiest waterways.Egypt’s Suez Canal Authority (SCA) has said that the Ever Given container ship, which has been blocking the crucial waterway for nearly a week, was partially refloated and has been turned in the “right direction”. “The position of the ship has been reorientated 80 percent in the right direction. The stern … moved to 102 metres [35 feet] from the shore,” compared with its position four metres [13.1feet] from the shore previously, Suez Canal Authority (SCA) chief Osama Rabie in a statement. Monday’s move comes a week after the container ship ran aground in high winds, blocking one of the world’s busiest shipping lanes. Here are the latest developments on the story: 27 mins ago (06:25 GMT) Comple...
Canal service provider says container ship in Suez set free
News

Canal service provider says container ship in Suez set free

SUEZ, Egypt (AP) — Salvage teams on Monday freed a colossal container ship stuck for nearly a week in the Suez Canal, ending a crisis that had clogged one of the world’s most vital waterways and halted billions of dollars a day in maritime commerce.Helped by the tides, a flotilla of tugboats wrenched the bulbous bow of the skyscraper-sized Ever Given from the canal’s sandy bank, where it had been firmly lodged since March 23.The tugs blared their horns in jubilation as they guided the Ever Given through the water after days of futility that had captivated the world, drawing scrutiny and social media ridicule.The giant vessel headed toward the Great Bitter Lake, a wide stretch of water halfway between the north and south ends of the canal, where it will be inspected, said Evergreen Marine C...