{"id":639783,"date":"2024-08-14T00:00:00","date_gmt":"2024-08-14T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/08\/14\/germanys-hapag-lloyd-will-ditch-suez-canal-until-the-end-of-2024\/"},"modified":"2024-08-14T00:00:00","modified_gmt":"2024-08-14T00:00:00","slug":"germanys-hapag-lloyd-will-ditch-suez-canal-until-the-end-of-2024","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/08\/14\/germanys-hapag-lloyd-will-ditch-suez-canal-until-the-end-of-2024\/","title":{"rendered":"Germany\u2019s Hapag-Lloyd will ditch Suez Canal until the end of 2024"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good afternoon, wonderful people.<\/strong> We have another brisk news day here at home as we are inching closer to the weekend.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE BIG STORY TODAY<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Hapag-Lloyd\u2019s ships will avoid sailing through the Red Sea through 2024:<\/strong> German shipping giant Hapag-Lloyd will continue to steer its container ships away from the Red Sea shipping corridor through the end of 2024, instead opting to send its vessels around the Cape of Good Hope, CEO Rolf Habben Jansen told <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/companies\/2024\/08\/14\/-%D9%87%D8%A7%D8%A8%D8%A7%D8%BA-%D9%84%D9%88%D9%8A%D8%AF-%D9%86%D8%AE%D8%B7%D8%B7-%D9%84%D8%AA%D8%AC%D9%86%D8%A8-%D8%A7%D9%84%D9%85%D8%B1%D9%88%D8%B1-%D8%B9%D8%A8%D8%B1-%D8%A7%D9%84%D8%A8%D8%AD%D8%B1-%D8%A7%D9%84%D8%A3%D8%AD%D9%85%D8%B1-%D8%AD%D8%AA%D9%89-%D9%86%D9%87%D8%A7%D9%8A%D8%A9-%D8%A7%D9%84%D8%B9%D8%A7%D9%85-%D8%B9%D9%84%D9%89-%D8%A7%D9%84%D8%A3%D9%82%D9%84\" style=\"\" rel=\"noopener\">Reuters<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bad news for our Suez Canal revenues:<\/strong> The shipping company is one among <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7012e03f-8dda-4b2a-ae40-ba7144b132a8\/world%25e2%2580%2599s-largest-shipping-firms-pause-red-sea-transit\" style=\"\" rel=\"noopener\">a number of firms<\/a> that began rerouting their ships away from the Red Sea last autumn in light of ongoing attacks by Yemen\u2019s Houthis on shipping traffic. Disruptions in the Red Sea have hit Suez Canal revenue \u2014 a major source of FX \u2014 hard, with Suez Canal Authority head Osama Rabie noting in July that revenues from the canal had <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3a3c3c58-e35e-44f3-a02d-a996693a23f3\/the-third-usd-820-mn-from-the-imf-to-arrive-in-the-nation%25e2%2580%2599s-coffers-within-days\" style=\"\" rel=\"noopener\">fallen some 23% y-o-y<\/a> during FY 2023-2024 to USD 7.2 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE BIG STORY ABROAD<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Norway\u2019s sovereign wealth fund, the largest in the world, reported net income of USD 138 <\/strong><strong>bn in H1 2024 thanks to AI.<\/strong> CEO of Norges Bank Investment Management Nicolai Tangen attributed their 8.6% return to the \u201cincreased demand for new solutions in artificial intelligence.\u201d Other investments, namely in renewable energy infrastructure, incurred major losses, resulting in an overall dock of 0.04 percentage points on the country\u2019s benchmark index. Tangen also shared his negative outlook on the future of global stocks due to ongoing geopolitical situations, but did not indicate whether the fund will be divesting from any of the 8.7k companies they have invested in across 70 countries. (<a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/08\/14\/worlds-largest-sovereign-wealth-fund-posts-138-billion-in-h1-profit.html\" style=\"\" rel=\"noopener\">CNBC<\/a>)<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** CATCH UP QUICK<\/strong> on the top stories from today\u2019s <strong>EnterpriseAM:<\/strong><\/p>\n<ul>\n<li><strong>Africa\u2019s first carbon market has landed:<\/strong> Egypt launched yesterday its voluntary carbon trading market \u2014 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bf6f83bf-cf94-4686-a908-2e5c27b3c511\/egypt-launches-africa%25e2%2580%2599s-first-carbon-market\" style=\"\" rel=\"noopener\">the first in the country<\/a> and in Africa.<\/li>\n<li><strong>A whole lotta earnings: <\/strong>Yesterday saw <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/75bca066-f2e3-4908-b1ca-302adef09ac8\/tmg-holding,-contact-financial,-fawry-report-earnings\" style=\"\" rel=\"noopener\">a fresh batch of 1H earnings published<\/a> \u2014 we have earnings from Talaat Moustafa Group Holding, Contact Financial, and Fawry.<\/li>\n<li><strong>A big wheat buy in our future? <\/strong>State grain buyer GASC is in discussions over directly <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b829ddbb-1767-4eb3-b38f-d9121dae41ce\/egypt-is-still-looking-to-secure-a-big-wheat-buy\" style=\"\" rel=\"noopener\">purchasing up to 1.8 mn tons of wheat<\/a> from international suppliers.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u2600\ufe0f<\/strong><strong>TOMORROW\u2019S WEATHER- <\/strong>The mercury is peaking at a high of 38\u00b0C before simmering to a moderate low of 26\u00b0C by nightfall, according to our favorite weather app. Sahel and Alexandria are seeing cooler weather, with a high of 32-33\u00b0C and a low of 24-27\u00b0C.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good afternoon, wonderful people. We have another brisk news day here at home as we are inching closer to the weekend. THE BIG STORY TODAY Hapag-Lloyd\u2019s ships will avoid sailing through the Red Sea through 2024: German shipping giant Hapag-Lloyd will continue to steer its container ships away from the Red Sea shipping corridor through [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":639784,"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":[7213],"tags":[633,7103,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-639783","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-tonight","tag-enterprisepm","tag-suez-canal","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"2fb54736-2e8e-4538-96c7-f47b66b91652","order":"1","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/8\/1313.jpg","photo_position":"above","homepage_title":"","full_issue_title":"","related_issue":[639781],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.6ccbde3a-0ebd-49f4-9f01-2117370b8fda.mp3"},"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>Germany\u2019s Hapag-Lloyd will ditch Suez Canal until the end of 2024 - 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\/2024\/08\/14\/germanys-hapag-lloyd-will-ditch-suez-canal-until-the-end-of-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Germany\u2019s Hapag-Lloyd will ditch Suez Canal until the end of 2024\" \/>\n<meta property=\"og:description\" content=\"Good afternoon, wonderful people. We have another brisk news day here at home as we are inching closer to the weekend. THE BIG STORY TODAY Hapag-Lloyd\u2019s ships will avoid sailing through the Red Sea through 2024: German shipping giant Hapag-Lloyd will continue to steer its container ships away from the Red Sea shipping corridor through [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/14\/germanys-hapag-lloyd-will-ditch-suez-canal-until-the-end-of-2024\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2024-08-14T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1313.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/14\/germanys-hapag-lloyd-will-ditch-suez-canal-until-the-end-of-2024\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/14\/germanys-hapag-lloyd-will-ditch-suez-canal-until-the-end-of-2024\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Germany\u2019s Hapag-Lloyd will ditch Suez Canal until the end of 2024\",\"datePublished\":\"2024-08-14T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/14\/germanys-hapag-lloyd-will-ditch-suez-canal-until-the-end-of-2024\/\"},\"wordCount\":435,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/14\/germanys-hapag-lloyd-will-ditch-suez-canal-until-the-end-of-2024\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1313.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterprisePM\",\"Suez Canal\",\"WHAT WE\u2019RE TRACKING TONIGHT\"],\"articleSection\":[\"WHAT WE\u2019RE TRACKING TONIGHT\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/14\/germanys-hapag-lloyd-will-ditch-suez-canal-until-the-end-of-2024\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/14\/germanys-hapag-lloyd-will-ditch-suez-canal-until-the-end-of-2024\/\",\"name\":\"Germany\u2019s Hapag-Lloyd will ditch Suez Canal until the end of 2024 - 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