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May 17, 2023 03:07 PM IST "The unique North-South transport artery, of which the Rasht-Astara railway will become a part, will help to significantly diversify global traffic flows," Putin said.
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January 26, 2023 10:23 PM IST The Suez Canal, connecting the Mediterranean Sea with the Red Sea, is one of the world's busiest trade routes. About 12 per cent of the global trade passes through the canal each day.
- January 09, 2023 02:24 PM IST
Approximately 12 percent of global trade and 30 percent of global container traffic traverse the Suez, transporting over $1 trillion worth of goods per annum
- January 09, 2023 02:07 PM IST
Tugboats "have begun towing the ship" which had suffered "a sudden technical failure" and was now being safely towed away for repairs, said Suez Canal Authority chief Osama Rabie.
- November 15, 2022 07:57 PM IST
The project will be implemented in phases, the first of which will be a pilot phase to produce 20,000 tonnes of green hydrogen, along with derivatives, annually.
- July 05, 2022 09:29 AM IST
The number of vessels transiting the canal rose 15.7 percent to 22,032.
- August 20, 2021 09:43 PM IST
The vessel, one of the world's largest container ships, became jammed across the canal in high winds on March 23, halting traffic in both directions and disrupting global trade.
- July 29, 2021 12:36 PM IST
It was scheduled to dock at Rotterdam’s ECT Delta terminal for unloading until Aug. 3 before departing for Felixstowe, England, the port said.
- July 08, 2021 02:45 PM IST
The nearly 200,000-tonne container vessel became wedged across the canal during a sandstorm on March 23, blocking a vital artery from Asia to Europe that carries 10 percent of global maritime trade and provides Egypt with vital revenues. After a round-the-clock salvage operation to dislodge it, Egypt seized the ship and demanded compensation from owners Shoei Kisen Kaisha for lost canal revenues, salvage costs and damage to the canal.
- July 07, 2021 04:29 PM IST
A ceremony was held at the canal to mark the departure of the vessel, which is loaded with about 18,300 containers.
- July 07, 2021 12:43 PM IST
One of the world's largest container ships, the Ever Given became wedged diagonally across a single-lane stretch of the canal for six days, disrupting global trade.
- July 05, 2021 10:34 AM IST
The authority did not reveal details of the settlement deal with the Shoei Kisen Kaisha Ltd., the Japanese owner of the Ever Given. It said the deal will be signed in a ceremony in the Suez Canal city of Ismailia on Wednesday.
- June 20, 2021 07:11 PM IST
The Suez Canal Authority (SCA) demanded $916 million in compensation to cover salvage efforts, reputational damage and lost revenue, before publicly lowering the request to $550 million.
- April 06, 2021 08:53 PM IST
The 400-metre-long (1,310 ft) Ever Given became grounded diagonally across the southern section of the canal during high winds on March 23. It remained stuck for six days, preventing hundreds of ships from passing and significantly impacting global trade flows.
- April 03, 2021 04:07 PM IST
International supply chains were thrown into disarray when the 400-metre-long (430-yard) Ever Given ran aground in the vital trade artery on March 23, with specialist rescue teams taking almost a week to free her after extensive dredging and repeated tugging operations.
- April 02, 2021 08:54 PM IST
Leth Agencies said that a total of 357 vessels have crossed the Canal since the ship was re-floated by a flotilla of tugboats, helped by the tides.
- March 31, 2021 04:43 PM IST
The Suez Canal crisis was short, but was years in the making
- March 30, 2021 05:21 PM IST
The index has to continue to hold above 14,750 to move towards 15,000 and 15,100, while on the downside, support exists at 14,600 and 14,500 levels, say experts.
- March 30, 2021 04:13 PM IST
Against this backdrop, governments and businesses alike are bringing production back home where it may be more expensive but at least is more secure.
- March 30, 2021 02:50 PM IST
The blockage at the Suez Canal disrupted global trade, causing losses worth billions. About 15 percent of world shipping traffic transits the Suez Canal, according to a Reuters report.
- March 30, 2021 08:26 AM IST
The United Kingdom Maritime Trade Operations naval authority said separately that ships diverting around Africa could mean that more traffic passes through high risk areas where pirate gangs operate.
- March 29, 2021 10:24 PM IST
Amidst the terrible situation that held up traffic and slowed global trade, a new web application has surfaced on social media, that lets users visualise what the ship would look like when stuck in different places.
- March 29, 2021 10:49 PM IST
Tariffs are expected to remain elevated as the vessels that have been diverted already will need to be re-scheduled into the international shipping timelines, analysts have said.
- March 29, 2021 07:26 PM IST
The ship is currently on its way to Great Bitter Lake, according to Leth Agencies, which is a transit agent at the Suez Canal.
- March 29, 2021 04:14 PM IST
Indian exporters and importers have heaved a sigh of relief over news reports that the MV Ever Given, which has been blocking the Suez Canal for nearly a week now, is refloated.
