The Sues Canal Authority has confirmed that a capesize bulk carrier has run aground and remains stuck in the Suez Canal, according to shipping agency GAC. The company reports that the vessel ground at about 10:30 a.m. local time on Friday at kilometer 69 in the Suez Canal. The vessel remained grounded in the same position at the time of the update. GAC said Suez Canal … [Read more...]
Canals Feel Ripples of Container Shipping Crisis as Vessels Go the Long Way Round
By Gavin van Marle (The Loadstar) - The Panama and Suez canals could be the next institutions to be affected by the ongoing crisis in the container shipping industry, according to new analysis from Africa ports analyst and monitoring service portoverview.com The twin factors of cellular overcapacity and rock-bottom bunker costs have, over the past year, led carriers to … [Read more...]
New Suez Canal Dredging Helps Boskalis Sail Past First Half Profit Forecast
By Toby Sterling AMSTERDAM, Aug 20 (Reuters) - Dutch marine engineering company Boskalis reported a 21 percent rise in first-half earnings, comfortably beating market expectations thanks to an exceptionally strong performance by its dredging business and an investment windfall. However the company warned on Thursday that earnings for the fall year would fall … [Read more...]
Drewry: New Suez Canal Targets ‘Ambitious’
By Drewry Shipping Consultants The impressive ‘New Suez Canal’ project will improve capacity, transit times and reduce delays, not least because it will likely be used by far fewer vessels than expected by its sponsors. The expansion of the Suez Canal into a two-lane maritime highway, from what could have been described as a congested single country lane, has … [Read more...]
Time-Lapse: Maersk Ship Transits New Suez Canal in 3 Minutes
Here is a new time-lapse video from Maersk Line showing a transit of the New Suez Canal, an adjacent waterway that now allows vessels to pass each other through most of the canal, cutting transit times from 18 hours to 11 hours for southbound traffic and theoretically allowing more ships through the canal. The New Suez Canal was just recently opened on August 6, so as far as … [Read more...]