Suez Canal

Trump stirs up controversy over suggesting US ships should pass for free in Suez Canal

US President Donald Trump on Saturday has sparked outrage on Egyptian media and online discussions after he said that US military and commercial vessels should be allowed free passage through the Suez Canal. “American Ships, both Military and Commercial, should be allowed to travel, free of charge, through the Panama and Suez Canals! Those Canals …

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Egypt Independent April 27, 2025

How will Trump’s tariffs impact the Suez Canal?

Osama Rabie, Chairman of the Suez Canal Authority, stated that the tariffs recently imposed by the United States on China could affect global trade and, consequently, the Suez Canal. Rabie added, during a press conference on Thursday, that Chinese goods constitute a significant portion of the Suez Canal’s trade traffic, and imposing tariffs on them …

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Egypt Independent April 18, 2025

Suez Canal revenues plunge by 60 percent as Egypt faces economic and political turmoil

Suez Canal revenues plunge by 60 percent as Egypt faces economic and political turmoil The drop of over $7 billion

Middle East Eye December 28, 2024

Suez Canal suffers significant revenue loss of over 60 percent in the last 7 months: Sisi

The Suez Canal’s revenue has taken a significant hit over the past seven-eight months, due to Israel’s escalating war in the region and its consequences. President Abdel Fattah al-Sisi announced Sunday that these losses could reach between 50-60 percent of total receipts, potentially amounting to six billion dollars. Earlier in February, Sisi that Suez Canal …

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Egypt Independent September 29, 2024

SCEZONE inks usufruct contract with Turkish company worth $40 mln

The Suez Canal Economic Zone (SCEZONE) announced on Tuesday inking a land usufruct contract of 65,000-square-meter area with the Turkish company of Eroglu Egypt for ready-made clothes at investments worth $40 million . The contract was inked by Head of the Suez Canal Economic Zone (SCZONE) Walid Gamal Eldin and Chairman of the company Ömmet …

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Egypt Independent May 29, 2024

SCZone successfully attracts 128 projects worth US$6 billion within two years

The Suez Canal Economic Zone (SCZone) in two years has successfully attracted 128 projects worth six billion dollars, of which Chinese investments represent 40 percent. The Chairman of the General Authority of the SCZone Walid Gamal-Eddin said that it was the fruitful cooperation with industrial developer TEDA-Egypt that served as the starting point that built …

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Egypt Independent May 18, 2024

Egypt: Suez Canal revenues plunge by almost half following Red Sea attacks

Egypt: Suez Canal revenues plunge by almost half following Red Sea attacks Attacks by the Houthis in support of Gaza

Middle East Eye February 6, 2024

Egypt’s credit outlook revised to ‘negative’, as Red Sea attacks hit Suez Canal revenues

Egypt’s credit outlook revised to ‘negative’, as Red Sea attacks hit Suez Canal revenues Rating’s agency Moody’s cuts credit outlook

Middle East Eye January 20, 2024

Worldwide leading container shipping company Evergreen notifies Suez Canal of return to the Red Sea

The Taiwan-based company Evergreen Group sent a notification to the Suez Canal and logistical companies that it would resume navigation in the Red Sea and the shipping lane in the coming days, according to what Bloomberg reported from sources. The sources, including a Suez Canal shipping official, said that the canal will receive the first …

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Egypt Independent December 29, 2023

Shipping giant CMA-CGM follows in footsteps of Maersk in returning to Suez Canal

Shipping giant CMA CGM announced on Tuesday that it intends to gradually boost the number of vessels using the Suez Canal. “Some vessels have made the transit through the Red Sea. This decision is based on an in-depth evaluation of the security landscape and our commitment to the security and safety of our seafarers,” CMA …

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