{"id":565201,"date":"2021-03-25T13:39:02","date_gmt":"2021-03-25T13:39:02","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/25\/ekser-wara-shemal-fi-yemeen-yasta\/"},"modified":"2021-03-25T13:39:02","modified_gmt":"2021-03-25T13:39:02","slug":"ekser-wara-shemal-fi-yemeen-yasta","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/25\/ekser-wara-shemal-fi-yemeen-yasta\/","title":{"rendered":"Ekser wara shemal fi yemeen, Yasta"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>The Ever Given cargo ship is still blocking the Suez Canal as of dispatch<\/strong>, with the Suez Canal Authority closing down the waterway until the ship is freed, Suez Canal Authority (SCA) chairman Osama Rabie <a href=\"https:\/\/www.suezcanal.gov.eg\/Arabic\/MediaCenter\/News\/Pages\/Navigation_new25-03-2021.aspx\">announced in a statement today<\/a>. The authority had deployed this morning eight large tugboats in another attempt to dislodge the ship, he added.<\/p>\n<p><strong>N<\/strong><strong>o consensus on when things might start moving again: <\/strong>Some are expecting the ship to be dislodged soon, including the former head of Navigation Control at the SCA Mohamed Fawzy, who told Enterprise today that it may happen as soon as tomorrow. But some global experts beg to differ. The best chance for freeing the ship may not come until Sunday or Monday, when the tide reaches a peak, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-03-24\/best-shot-at-unblocking-suez-canal-may-not-come-until-monday?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg reports<\/a> citing big ship rescue experts. If that window is missed, the next opportunity would be another 12 to 14 days away, when tides are expected to swell again, they added.<\/p>\n<p><strong>\u201cWe can\u2019t exclude it might take weeks [to free the ship], depending on the situation,\u201d<\/strong> Peter Berdowski, CEO of Dutch company Boskalis, which is trying to free the ship, <a href=\"https:\/\/www.reuters.com\/article\/us-egypt-suezcanal-ship\/tugs-resume-effort-to-clear-suez-ship-blockage-traffic-jam-builds-idUSKBN2BH0BA?il=0\">told a Dutch TV program<\/a> that<\/p>\n<p><strong>Hundreds of ships are still waiting to get through:<\/strong> <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-03-25\/suez-snarl-seen-halting-9-6-billion-a-day-worth-of-ship-traffic?sref=mmeFTDW1\">Bloomberg\u2019s latest tally<\/a> puts the number of ships waiting to pass through at 185 (same as yesterday). Cargo ships waiting in line behind Ever Given will most likely be turned south back to Port Suez, in order to free the channel, <a href=\"https:\/\/apnews.com\/article\/egypt-coronavirus-pandemic-asia-suez-canal-africa-d8b6696716ab45794cba583ecf0e4001\">AP reports<\/a>, citing canal services provider Leth Agencies.<\/p>\n<p><strong>The world is still trying to count the cost of the fiasco:<\/strong> Currently, it is disrupting USD 9.6 bn worth of goods daily from travelling through the canal, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-03-25\/suez-snarl-seen-halting-9-6-billion-a-day-worth-of-ship-traffic?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg cites shipping journal Lloyd\u2019s List<\/a>. Concerns over the disruption also caused oil prices to fall back after surging 6% on Wednesday, <a href=\"https:\/\/apnews.com\/article\/africa-egypt-hong-kong-shanghai-financial-markets-0e5f4434abc5d8094577b32ac392eab0\">the news agency says<\/a>. Expecting the fallout to last for days, the stuck ship is a new pressure point for a global supply chain already strained from winter and spring weather impacting infrastructure in the US, and a global shortage in microchips, <a href=\"https:\/\/www.wsj.com\/articles\/the-suez-canal-is-blocked-by-a-giant-container-ship-11616560437?mod=searchresults_pos1&page=1\">the Wall Street Journal writes reports<\/a>.<\/p>\n<p><strong>Commodities price boom to get a boost from this? <\/strong>The Ever Given disruption may uplift the tanker rates and commodity prices, senior vice president for equity research at financial services company Jeffries Randy Giveans told AP. Such disruptions are usually of benefit to the owners and the commodity being transported, as it forces tanker rates and crude prices to shoot up, he explains.<\/p>\n<p><strong>What\u2019s an apology worth? <\/strong>Japanese owner of the ship Shoei Kisen apologized \u201cfor causing a great deal of concern\u201d today, saying it was working towards a resolution of the situation <a href=\"http:\/\/www.shoei-kisen.com\/shared\/210325.html\">in a statement (Japanese)<\/a>. Shoei Kisen KK could face claims from the Suez Canal Authority (SCA) for loss of revenue and canal damage, and from other ships for passage disruption, Reuters reports <a href=\"https:\/\/www.reuters.com\/article\/idUSKBN2BG329\">citing industry sources<\/a>.<\/p>\n<p><strong>FURTHER READING- <\/strong> Groundings are the most common cause of shipping incidents in the Suez Canal, <a href=\"https:\/\/www.reuters.com\/article\/idUSKBN2BG329\">Reuters cites Allianz Global Corporate and Specialty (ACGN)<\/a>, adding that 25 groundings had happened in the canal in the past 10 years.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Ever Given cargo ship is still blocking the Suez Canal as of dispatch, with the Suez Canal Authority closing down the waterway until the ship is freed, Suez Canal Authority (SCA) chairman Osama Rabie announced in a statement today. The authority had deployed this morning eight large tugboats in another attempt to dislodge the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":565202,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[10111],"tags":[633,134,7103,133],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-565201","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round-suez-canal","tag-enterprisepm","tag-ever-given","tag-suez-canal","tag-suez-canal-authority","wpautop","entry"],"acf":{"mongo_id":"2a5b8bc0-f51c-4098-a973-2983dc53c8bd","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/3\/550.jpg","photo_position":"above","related_issue":[565197],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Ekser wara shemal fi yemeen, Yasta - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/25\/ekser-wara-shemal-fi-yemeen-yasta\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ekser wara shemal fi yemeen, Yasta\" \/>\n<meta property=\"og:description\" content=\"The Ever Given cargo ship is still blocking the Suez Canal as of dispatch, with the Suez Canal Authority closing down the waterway until the ship is freed, Suez Canal Authority (SCA) chairman Osama Rabie announced in a statement today. 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PLUS: News from the FRA","author":"enterpriseam admin","date":"18 October 2023","format":false,"excerpt":"The government now expects canal revenues to rise by more than a third this year to USD 10.3 bn","rel":"","context":"In \"ALSO ON OUR RADAR\"","block_context":{"text":"ALSO ON OUR RADAR","link":"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/10\/887.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":616411,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/05\/sca-to-fully-fund-plan-to-expand-the-suez-canal-through-its-investment-budget\/","url_meta":{"origin":565201,"position":1},"title":"SCA to fully fund plan to expand the Suez Canal through its investment budget","author":"enterpriseam admin","date":"5 March 2024","format":false,"excerpt":"The authority will carry out studies for the project over the next 16 months","rel":"","context":"In &quot;Logistics&quot;","block_context":{"text":"Logistics","link":"https:\/\/enterpriseam.com\/egypt\/category\/logistics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/313.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":602339,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/25\/suez-canal-authority-agrees-with-finmin-to-pay-off-debts-to-state-owned-banks\/","url_meta":{"origin":565201,"position":2},"title":"Suez Canal Authority agrees with FinMin to pay off debts to state-owned banks","author":"enterpriseam admin","date":"25 March 2019","format":false,"excerpt":"The Suez Canal Authority (SCA) has reportedly reached an agreement with the Finance Ministry that will see the ministry paying off the USD 600 mn the authority owes to state-owned banks, Al Shorouk reports. Under the agreement, the authority will pay off the remaining USD 300 mn it owes to\u2026","rel":"","context":"In &quot;Banking + Finance&quot;","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":651620,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/16\/suez-canal-authority-receives-five-offers-to-build-usd-600-mn-ship-fueling-station\/","url_meta":{"origin":565201,"position":3},"title":"Suez Canal Authority receives five offers to build USD 600 mn ship fueling station","author":"enterpriseam admin","date":"16 February 2017","format":false,"excerpt":"The Suez Canal Authority has five offers from regional and International investors to participate in a project to build a ship fueling station in the Adabiya Port with an investment cost of USD 600 mn, authority chief Mohab Mamish told Al Mal. The offers come from Kuwait, the UAE, Saudi\u2026","rel":"","context":"In &quot;Infrastructure&quot;","block_context":{"text":"Infrastructure","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/infrastructure\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":642582,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/17\/government-announces-incentives-for-shipping-companies\/","url_meta":{"origin":565201,"position":4},"title":"Government announces incentives for shipping companies","author":"enterpriseam admin","date":"17 August 2017","format":false,"excerpt":"Ship lines get port fee break as gov\u2019t looks to restore competitiveness: The Ismail government will be providing shipping companies with breaks on Suez Canal port fees as high as 50%. The reduced pricing will be proportionate to the volume of cargo shipped by the lines, Transport Minister Hisham Arafat\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":635645,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/12\/10\/suez-canal-to-keep-tolls-for-passing-ships-stable-2018\/","url_meta":{"origin":565201,"position":5},"title":"Suez Canal to keep tolls for passing ships stable 2018","author":"enterpriseam admin","date":"10 December 2017","format":false,"excerpt":"The Suez Canal Authority (SCA) will leave unchanged tolls stable for ships passing through the canal in 2018, SCA head Mohab Mamish told reporters on Thursday, Al Masry Al Youm reports.","rel":"","context":"In &quot;Infrastructure&quot;","block_context":{"text":"Infrastructure","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/infrastructure\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/565201","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=565201"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/565201\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/565197"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/565202"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=565201"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=565201"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=565201"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=565201"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=565201"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}