• 2016 February 26 15:37

    Suez Canal access channel is officially opened

    Completed within just three months, the new 8.5 km (5.2 mile) access channel directly links the East Port Said port complex to the Mediterranean Sea, eliminating the need for vessels heading to the Suez Canal Container Terminal (SCCT) to wait 6-8 hours for a time window between vessel convoys transiting the canal. This means that the channel, dredged to a depth of 18.5 meters (61 feet), can provide 24-hour access to East Port Said, and SCCT, to the Ultra-Large Container Ships (ULCS) of 18,000 TEU capacity and above now deployed in the Far East/Europe trade lanes, and using the canal in increasing numbers.

    A ceremony formally inaugurating the project was hosted by SCCT at East Port Said. Attendees at the ceremony included Egyptian Prime Minister Sherif Ismail, Suez Canal Authority Chairman, Admiral Mohab Mamish, and the Governor of Port Said, Major General Adel El Ghadban to witness the opening of the project, which represents an investment of approximately USD $40 million.

    In August 2015, a USD $8.2 billion project to deepen the Suez Canal, and excavate a new 35 km (22 mile) channel parallel to sections of the existing canal was completed, enabling two-way traffic along the entire 193 km (120 mile) canal route, and doubling canal traffic capacity from 49 vessels daily to 97. The canal project was completed in one year, leaving the dredging and other heavy equipment in place for construction of the access channel.

    APM Terminals is the majority shareholder in SCCT, with a 55% ownership. Other shareholders include Chinese-based COSCO Pacific, with 20%, the Suez Canal Authority, with 10.3%, and the National Bank of Egypt, with 5%. The remaining shares are held by the Egyptian private sector. Over USD $800 million has been invested in the terminal, which opened in October 2004, and has become one of the busiest container facilities in the region, handling 2.95 million TEUS, primarily for transshipment, in 2015.

    Approximately one tenth of all global seaborne trade moves through the Suez Canal, carried by 18,000 vessels, including container ships, transiting annually; in 2015 5,941 container vessels traveled the canal, representing an aggregate capacity of 41.2 million TEUs. SCCT is currently undergoing an expansion, including the installation of new, larger cranes to accommodate the increased vessel traffic, and larger container ships. The four additional Super-Post Panamax cranes scheduled for delivery to the terminal in mid-2016 will bring SCCT’s crane total to 24, increasing the terminal’s annual throughput capacity to 5.4 million TEUS, and making it the largest container terminal by capacity on the Mediterranean Sea. Representing an infrastructure investment of USD $42 million, the new STS cranes will each have a 72 meter reach, and a height of 52 meters, with the ability to handle the world’s largest vessels now entering the global fleet.

    There are currently 36 vessels of 18,000 TEU capacity and above in service, deployed on the Far East/Europe trade lane, the world’s busiest, with another 73 on order. The new cranes will be operated by remote-control to improve both safety, and productivity. SCCT is the only container terminal in Egypt capable of working ULCS, emphasizing the importance of the terminal as a global and regional transshipment hub.

    SCCT is also exploring further investments into dry port facilities and other port functions, including general and liquid bulk operations in order to meet the needs of Egypt’s growing population of 91 million, the third-largest in Africa (after Nigeria and Ethiopia), which has been projected to reach 150 million by 2050.




2020 February 29

12:27 Huntington Ingalls reaches important milestone in construction of CVN 79
11:47 USCG conducts operation at U.S. Virgin Islands ferry terminals
10:51 Sanmar delivers Robert Allan-designed ASD tug to Rimorchiatori Riuniti
08:07 BW LPG declares option for additional LPG dual-fuel engines, bringing total investment to twelve
07:03 CMA CGM announces FAK rates from Asia to North Europe

2020 February 28

18:17 CMA CGM announces FAK rates from North Europe to Canada
18:12 Onezhsky Shipyard launches second hybrid workboat for Rosmorport
17:30 COSCO SHIPPING successfully completes the first bauxite shipping mission for CHINALCO’s project in Guinea
17:06 CMA CGM announces FAK rates from North Europe to USEC, USGULF and USWC
16:54 Glavgosexpertiza approved construction of Arctic LNG 2 facilities
16:52 ICHCA International, the International Cargo Handling Coordination Association, and the Association of Bulk Terminal Operators sign MOU
16:11 Shipbuilding and Shiprepair Yard RIF conducted sea trials for its HDP boat of Project Rif-75 PKZ
15:47 LNG fuelled ore carrier proves to be commercially viable, SEA-LNG study shows
15:20 FESCO Board expanded to nine members
14:16 Panahon presence boosts PISR in the Far East
13:49 Norwegian Shipowners' Association issued sustainability reporting guidelines for shipping and offshore industries
13:13 Johan Röstin steps down as CEO of ForSea
12:36 RF Navy's ship Admiral Vladimirsky completed oceanographic research in Bellingshausen Sea
12:10 Polskie LNG launches Open Season Process for Świnoujście LNG Terminal
11:47 Port of Antwerp launches Bulkchain collaboration platform
11:02 Diana Shipping announces the sale of a Capesize dry bulk vessel, the m/v Norfolk
10:41 IMO developed guidelines for taking onboard samples of fuel from ships
10:18 Fincantieri launches the first corvette for Qatar
10:07 Pathways to achieve IMO's Initial GHG Strategy goals discussed at dedicated workshop hosted by WMU
09:40 Brent Crude futures price is down 2.51% to $50.43, Light Sweet Crude – down 2.68% to $45.83
09:29 The construction of new deepwater berths of cruise terminal at Piraeus Port starts
09:21 MABUX: Bunker market this morning, Feb 28
09:14 Baltic Dry Index is down to 529 points
08:32 CMA CGM announces PSS for cargo from North Europe to Asia

2020 February 27

18:05 European yards specify Thordon System as standard for deck machinery
17:48 IMO's GloFouling Partnership project tackles problem of invasive aquatic species in Sri Lanka
17:29 Tallink Grupp reports nearly 25% higher net profit for the full financial year 2019
17:05 AquaTerra acquires Subsea Engineering and Technical Services
16:51 Zelenodolsk Shipyard named after A.M. Gorky laid down passenger ship Chaika LNG
16:35 Vale clarifies incident with contracted vessel
16:04 NYK Cruises to cancel cruises due to coronavirus
15:30 Average physical depreciation of Rosmorport’s berthing facilities is 24%
15:07 National Association of Shipping Agencies addresses FAS over plans on multiple increase of port dues in Russia
14:56 Arbitration award related to purchase options for four VLCCs on charter to Okeanis ECO Tankers
14:43 ASCO strengthened preventive measures against coronavirus
14:19 ASCO takes necessary precautionary measures to prevent environmental damage
13:55 Rotterdam to host ACI’s 24th Ballast Water Management Conference on 7-8 April 2020
13:53 Ørsted signs 20-year lease with Port of Taichung for Greater Changhua offshore wind farms
13:34 Vysotsk VTS obtains Certificate of Conformity
13:12 Xeneta container rates alert: long-term contracted rates hold despite Coronavirus chaos
12:56 Certificate of Conformity obtained for Ust-Luga VTS
12:33 Finnlines published its 2019 Financial Statements and Financial Review
12:10 A.P. Moller - Maersk links new $5.0bn revolving credit facility to its CO2 performance
11:52 Port of Gdynia seeks opportunities for further development
11:28 Rosmorport’s Murmansk Branch performed pilotage of Capesize vessel
11:04 Rosmorport to complete dredging under NOVATEK’s project in Petropavlovsk-Kamchatsky by April 2021
10:41 3rd Technical Conference "Modern Solutions for Hydraulic Engineering" kicks off in Moscow
10:35 Ships of RF Navy’s Baltic Fleet continue performing planned training as part of its long-distance campaign
10:16 Port of Oakland debt ratings affirmed by Fitch
10:13 Brent Crude futures price is down 1.52% to $51.99, Light Sweet Crude – fell to 1.54% to $47.98
09:56 Hydrographic Department to dredge about 20 million cbm of material on Sabetta’s seaway canal in 2020
09:34 Marine Recruiting Agency LLC trained 1,957 specialists in 2019, up 2.6% YoY
09:32 MABUX: Bunker market this morning, Feb 27
09:15 Baltic Dry Index is up to 517 points

2020 February 26

18:37 Royal IHC to supply integrated power cablelay spread