International waterway woes pile up price pressures
“Longer supply lines tie up more vessels, boost freight rates, widen origin-destination spreads, and lift bunker demand,” Bank of America Global Research analysts said.
Suez Canal
BP strikes green hydrogen MoU with Egypt
BP has signed a memorandum of understanding (MoU) with Egypt to explore green hydrogen options.
Commissioning Egypt Green seeks to seize hydrogen advantage
Fertiglobe has begun commissioning the first phase of its Egypt Green hydrogen plant in a high-profile ceremony involving Egyptian President Abdel Fattah El-Sisi.
Masdar signs on to mega wind project in Egypt
In a major COP27 move, Masdar has signed up to develop a 10 GW onshore wind project in Egypt, said to be one of the largest such plans in the world.
Egypt flies the green flag ahead of COP27’s arrival in Cairo
Egypt will host the COP27 shindig come November. The country has made clear it is working on bolstering domestic energy production – with a particular focus on clean energy.
Anchorage shortlists four for major Egyptian petrochem plan
Anchorage Investments has shortlisted Hyundai E&C, Samsung Engineering, Technip Energies and Tecnicas Reunidas to build a petrochemical complex in the Suez Canal Economic Zone.
Masdar cements UAE hydrogen position in Egypt
Masdar has signed up to develop green hydrogen in the Suez Canal economic zone. This follows a number of similar agreements from United Arab Emirates-based companies with Egypt.
Scatec signs up to mammoth green ammonia plan in Egypt
Norway’s Scatec has signed a memorandum of understanding (MoU) for a green hydrogen and ammonia plant in Egypt.
“Global catastrophe” looms at Yemeni offshore oil storage site
The FSO Safer poses both a local environmental threat but also a major pitfall for shipping through the critical Red Sea and Suez Canal.
Egypt holds Ever Given while pushing for compensation
Egypt is pushing for the Japanese owners of the Ever Given ship to come to a deal, alleging the vessel was going too fast when it halted traffic through the Suez Canal.
Egypt launches $7.5bn petrochemical plan in Ain Sokhna
Egypt has signed an agreement for a major petrochemical plant in Ain Sokhna, with an investment of $7.5 billion.
Blocked Suez Canal halts key oil and LNG trade flows
The fallout from one of the world's largest container ships getting stuck in Egypt’s Suez Canal is disrupting oil and LNG shipments. Crude prices are already rising as the crucial world shipping choke point is set to be cut off for at least another two days.
Israel blames illegal Iranian oil delivery for beach pollution
Israel has pointed the finger of blame for pollution of its beaches at Iran, saying an illegal delivery of crude to Syria had gone awry.
SCA downplays Israel-UAE pipeline competition
The Suez Canal Authority (SCA) has denied that the reopening of the Eilat-Ashkelon pipeline would have an impact on flows through the Egyptian waterway.
New Suez Canal opens – GNS supplies new charts
Egypt opens the New Suez Canal today and maritime services group, Global Navigation Solutions (GNS), has been named as supplier of all new charts for the waterway.