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The Latest Breaking News from Suez Canal

China to build land-based 'Suez Canal' to connect Europe and Asia, bypassing shipping routes

China is quietly building alternative routes to help it export goods to Europe, without passing through its South Sea, to avoid tensions with the United States and its allies in the region.

Euronews

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

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Leaked texts show Trump administration’s dislike of Europe, bashing it as 'pathetic' and 'freeloading'

The U.S. airstrikes against Houthi rebels could ultimately help Europe's access to the Suez Canal—so Trump expects something "in return."

Fortune

Egypt's Non-Oil Sector Impacted By Suez Canal Disruption

Learn about the impact of the Suez Canal blockage on Egypt's non-oil sector and the challenges faced by businesses post-disruption.

Top News

How Israel’s war on Gaza is bleeding Egypt’s economy

As tourism, gas exports and Suez Canal revenues suffer, the Rafah crisis could make things worse, experts say.

Al Jazeera

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As Houthi attacks on ships escalate, experts look to COVID supply chain lessons

Shipping experts hope lessons learned during the COVID-19 pandemic, the Suez Canal disruption in 2021 and Somali pirate attacks more than a decade ago will mitigate widespread problems this time.

WEKU

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

Oil prices steady despite Middle East tensions, but risks are rising

Despite diverting supplies from the Suez Canal, tensions in the Red Sea have so far had a muted impact on energy prices.

Al Jazeera

Oil prices rise on fears of wider regional conflict after strikes on Houthi targets

Oil prices jumped over 2 percent after the US and UK carried out strikes on Houthi-controlled areas in Yemen, amid fears of an escalation of the conflict in the Middle East. Major shipping companies stopped travelling through the Suez Canal and Red Sea routes in early December after a spate…

France 24

Huthi Attacks Idle Suez Canal, Deepen Egypt's Economic Woes

Attacks by Yemen's Huthi rebels in the Red Sea have caused shipping companies to avoid the Suez Canal -- a key source of revenue for Egypt as it battles a deep economic crisis.

International Business Times

Maersk Says To Avoid Red Sea For Foreseeable Future

Shipping giant Maersk said Friday that it would divert all vessels around Africa instead of using the Red Sea and Suez Canal for the "foreseeable future" after Yemeni rebels attacked its merchant ships.

International Business Times

Next warns of stock shortages if Red Sea shipping problems continue

Next boss warns extra two and a half weeks must be added to stock delivery times for products coming through Suez Canal

The Independent UK

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Top News

Maersk Steers Dozens of Ships through Suez Canal Route

Maersk, the shipping juggernaut, charts an audacious course as it schedules numerous vessels to gracefully traverse the legendary Suez Canal. Ahoy, adventure!

Evening Standard

At least 38 injured in police headquarters fire in Egypt

The fire ripped through the police facility in the Suez Canal province of Ismailia

The Independent UK

Oil tanker breaks down in Egypt's Suez Canal, briefly disrupting traffic in the global waterway

A spokesperson for Egypt's Suez Canal says a tanker transporting crude oil broke down in the canal, briefly disrupting traffic in the global waterway

The New Daily

Maltese oil tanker breaks down in Egypt’s Suez Canal

A tanker transporting crude oil has broken down in a single-lane part of Egypt's Suez Canal, disrupting traffic in the global waterway.

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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

The Independent UK

Hong Kong-flagged vessel briefly runs aground in Egypt's vital Suez Canal, later refloated

A Hong Kong-flagged ship briefly ran aground in Egypt’s vital Suez Canal, though authorities said they were able to refloat it after it momentarily disrupted the waterway

Evening Standard

Cargo ship refloated after being stranded in Suez Canal for hours

Xin Hai Tong 23, which flys the Hong Kong flag, was travelling from Saudi Arabia to Egypt

The Independent UK

Suez Canal traffic blocked again as Hong Kong cargo ship runs aground

Xin Hai Tong 23 refloated after running aground at an angle across the canal’s southern mouth

Daily Mirror

Ship runs aground in Suez Canal as tugboats race to clear busy shipping lane

Around 30% of the world's shipping container volume passes through the canal and with it 12% of total global trade

Reuters

Suez traffic returns to normal after ship briefly stranded

Tugboats managed to move a large ship that had been stranded for several hours in the Suez Canal on Thursday, and sources said shipping traffic through one of the world's busiest waterways had returned to normal.

Asharq Al-Awsat

Egypt Lowers Its Economic Growth Forecast to 4.2% In 2022/23

Egypt’s economy is expected to grow 4.2 percent in the current fiscal year ending in June, the cabinet said on Tuesday, much less than previously forecast. Gross domestic product grew by 3.9 percent in October-December, the second quarter of the fiscal year, while the unemployment rate fell to 7.2 percent,…

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