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The Latest Breaking News from Suez

Ray Dalio says the U.S. just had its 'Suez moment'—and history says what comes next could end an empire

A national debt, fading empire and military victory that wasn't: Has America met its Suez Crisis with the Hormuz affair?

Fortune

Suez Canal sees oil tanker surge amid Strait of Hormuz disruption

Egypt's Suez Canal saw a significant rise in oil tanker traffic and revenue in April. This surge is linked to the closure of the Strait of Hormuz, forcing ships to use the Red Sea route. Broader vessel traffic also increased. This unexpected boost benefits Egypt's foreign exchange earnings, though overall…

The Economic Times

France moves nuclear-powered carrier toward Hormuz in potential mission, as Trump pauses US effort

The French armed forces say that France’s aircraft carrier strike group is moving south of the Suez Canal and into the Red Sea in preparation for a potential future mission as part of a French-British plan for the Strait of Hormuz

The Independent UK

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French carrier group moves south of Suez ahead of conditional UK-French Hormuz mission

The carrier’s southward move puts French air assets within range of the strait without entering the Gulf, where the US Navy has been blockading Iranian ports since 13 April.

Euronews

When US and Iran joined hands against Israel: Why Hormuz blockade brings back memories of 1956 Suez crisis

Iranian blockade of Strait of Hormuz and the heavy price that global economy is paying these days bring back dark memories of a similar crisis that had enveloped the world nearly a decade after World War II had ended: the shutdown of the Suez Canal in the wake of a…

The Times of India

A gulf separating Africa and Asia is still pulling apart — 5 million years after scientists thought it had stopped

The Arabian and African tectonic plates failed to pull apart 28 million years ago at the Gulf of Suez, but the area hasn't stopped rifting.

LiveScience

This trade deal is the EU’s Suez moment – its subservience to Trump is on show for all to see

Critics have described the one-sided deal as an admission of weakness, and a dark day for Europe. They are absolutely right, says Guardian columnist Larry Elliott

The Guardian - UK

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Egypt's Suez Canal revenue fell sharply in 2024 on regional tensions

Attacks by the Iran-backed Houthi rebels have continued to significantly impact commercial shipping through the Suez Canal.

Euronews

Egypt's revenue from the Suez Canal plunged sharply in 2024

Officials say Egypt’s revenue from the Suez Canal plunged by almost two thirds last year, attributing the sharp drop to regional tensions and wars in the Middle East that have impacted traffic through the key waterway

The Independent UK

JD Vance may be right and wrong about the Suez Canal and Europe

Attacks on tankers or, worse, a wider conflict in the Arabian Peninsula, could spur stagflation.

Fortune

UK petrol and diesel prices jump following Houthi attacks

Petrol is up 3.2p a litre and diesel 4p a litre as fuel tankers are forced to avoid the Suez canal

The Guardian - UK

Red Sea crisis: Suez Canal is not the only 'choke point' that threatens to disrupt global supply chains

The air strikes against targets in Yemen by the US and UK military have not been without criticism. They aim to keep the Houthis from attacking merchant vessels in the Bab el-Mandeb strait. Less than 30 ships have been attacked by Houthis since they seized the Israeli-linked Galaxy Leader vessel…

The Conversation

Red Sea, Panama Canal Send Container Freight Costs Soaring – What It Means For Global Economy And Wall Street

The Panama Canal drought causes severe shipping delays from Asia to the U.S. East Coast, particularly for heavy goods. Carriers are rerouting from trans-Pacific to trans-Atlantic via the Suez Canal, with alternate routes increasing transit times by 20-30%.

International Business Times

Here's How to Profit From Renewed Supply Chain Woes

Wall Street analysts have largely declared victory over COVID-related supply chain bottlenecks, but geopolitical conflicts and climate change have created new chokepoints for international trade in the Suez and Panama Canals. Here's how investors can profit from more upside in the major shipping companies this year.

Barchart

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The Guardian - UK

More than 100 container ships rerouted from Suez canal to avoid Houthi attacks

Cape of Good Hope diversion adds 6,000 nautical miles and three or four weeks to delivery times and has driven up oil prices

Daily Mirror

Suez Canal ships on move again as stranded tug refloated after huge salvage operation

Egypt's Suez Canal is a vital waterway trade that allows ships a more direct route than the 3,000 mile journey around the tip of Africa - amounting to billions in revenue for global trade

Asharq Al-Awsat

ACWA Power, Oman Investment Authority Study Possibility of Wind Power Plant Project in Egypt

Saudi Arabia and Oman signed on Tuesday a memorandum of understanding to study the possibility of investing up to 10 percent in the development, construction, and operation of the 1.1 GW Suez wind power plant project, which is valued at $1.5 billion. Oman News Agency reported that Oman Investment Authority…

The Guardian - UK

The markets have taken back control: so much for Truss’s Brexit delusion of sovereignty

This is the biggest humiliation of Britain since Suez, a reminder that no government can ignore reality, says Guardian columnist Jonathan Freedland

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The Guardian - UK

Rare metals, weird words and well-dressed Minions teens – take the Thursday quiz

Fifteen questions on general knowledge and topical trivia plus a few jokes every Thursday – how will you fare?

The Guardian - US

Stuck container ship Ever Forward finally refloated after a month

Ship freed from muddy bottom of the Chesapeake Bay at third attempt is owned by same company as ship stuck in Suez canal last year

The Guardian - US

Ever Forward ship still stuck in Chesapeake Bay after three weeks

Officials opt for new approach to moving vessel belonging to owners of Ever Given, which blocked Suez canal for a week

The Independent UK

Suez Canal says transit fees for ships will increase in May

Egypt says it will increase transit fees for vessels, including oil-laden tankers, passing through Suez Canal

The New Daily

Deja vu: Evergreen container ship grounded again

Nearly one year after the cargo ship Ever Given captured worldwide audiences when it blocked the Suez Canal, a sister vessel is repeating the feat.

The Guardian - US

Ever stuck: Suez container ship’s cousin runs aground in US harbor

The 334-metre Ever Forward ran into trouble in the Chesapeake Bay, a year to the month after its cousin blocked the canal in Egypt

The Guardian - UK

False Prophets by Nigel Ashton review – Britain and the Middle East

A deft and fascinating account of British prime ministers’ flawed interventions in the region, from Suez to Iraq

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