Tag: Suez Canal

After the Suez Canal Economic Zone (SCZONE) signed six memoranda of understanding for investments worth US$ 10 billion for green hydrogen and green ammonia projects, Rystad Energy noted that Egypt has all the prerequisites to become a green hydrogen giant.

Suez Canal Economic Zone (SCZONE) has signed six memoranda of understanding for investments worth US$ 10 billion for green hydrogen and green ammonia projects.

ICS and Egypt’s Suez Canal Authority (SCA) have signed a Memorandum of Understanding (MOU) covering key issues impacting international ship owners and operations of the Suez Canal.

On April 20th, Egyptian Prime Minister Dr. Mostafa Madbouly witnessed the signing ceremony for two memoranda of understanding for projects – one of which aims to produce green fuel for bunkering in the Suez Canal Economic Zone (SCEZ).

According to the Egyptian Marine Insurance Consultations & Services (EMICS), the Suez Canal Authority announced the imposition of new penalty fine up to $10.000 in certain cases, starting from April. 

The Ever Given case is a reminder of the fragility of global supply chains, but it raises some important questions about the challenges facing insurers when modelling for such claims, delegates attending a Nautical Institute webinar were told.

Port of Thessaloniki and the Suez Canal Economic Zone (SCZone) signed an agreement to develop international trade and increase their business activities by promoting the sea route between Europe and Asia via the Suez Canal.

A project to expand parts of the Suez Canal is expected to be completed after two years of work in July 2023, according to the chairman of the Suez Canal Authority (SCA).

Egypt's Suez Canal Authority (SCA) plans to offer new financial incentives for ships that follow environmentally friendly standards.

Despite the Ever Given blocking the Suez Canal in March 2021, the canal achieved the highest annual revenue in its history, amounting to 6.3 billion dollars, while also experiencing a 10% increase in traffic.