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Egypt Independent
15 hours ago
- Business
- Egypt Independent
Suez Canal Authority announces resurgence of giant ship transits after 15-month halt
Suez Canal Authority Chairman, Lieutenant General Osama Rabie, has announced the start of a new phase in the waterway's return to hosting mega container ships. This was marked by the passage of the container vessel CMA CGM OSIRISon Wednesday. The ship, with a total capacity of 154,000 tons, sailed as part of the southbound convoy from Singapore, heading to Alexandria Port via the Canal's new navigation channel. This vessel, part of the French shipping line CMA CGM, marks a significant return as the first large container ship to transit the Canal from the Bab el-Mandeb Strait since March 2024. Its passage follows a temporary halt in such traffic due to regional challenges. The ship's transit is a direct result of the Suez Canal Authority's (SCA) marketing efforts, highlighted by a recent announcement offering a 15% discount for container ships with a net tonnage exceeding 130,000 tons, whether laden or empty. This incentive, outlined in Circular No. (3/2025), will be valid for three months. Measuring 366 meters in length, 51 meters in width, and with a draft of up to 49 feet, the vessel can carry up to 15,536 TEUs (Twenty-foot Equivalent Units). This makes it the first large container ship to sail from Bab el-Mandeb and directly benefit from the new discount, which aims to encourage mega-vessels to resume transiting the Canal. Suez Canal Authority Chairman, Lieutenant General Osama Rabie, underscored the Canal's ongoing commitment to effective engagement with clients. He emphasized that the Authority is taking every measure to encourage major shipping lines to resume using the Canal, particularly through the implementation of flexible pricing policies. These policies are designed to respond positively to global market changes and reinforce the Canal's standing as the premier maritime option for mega-vessels, despite current regional and economic challenges. He further noted that recent discussions with the management of the French shipping line CMA CGM have resulted in an agreement for several of the group's large vessels to once again transit the Canal.
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Business Standard
13-05-2025
- Business
- Business Standard
Major ports' cargo rises 4.3% in FY25; Paradip, Deendayal cross 150 MT
India's major ports registered a 4.3 per cent rise in cargo handling to 855 million tonnes in 2024-25, an official statement said on Tuesday. The increase in traffic was driven by higher container throughput (10 per cent), fertiliser cargo handling (13 per cent), POL cargo handling (3 per cent), and handling of miscellaneous commodities (31 per cent) compared to the previous fiscal year, according to the statement. There are 12 major ports, wholly owned by the Government of India and governed by the provisions of the Major Port Authorities Act, 2021. These are Deendayal Port, Mumbai Port, Jawaharlal Nehru Port, Mormugao Port, New Mangalore Port, Cochin Port, VO Chidambaranar Port, Chennai Port, Kamarajar Port, Visakhapatnam Port, Paradip Port and Syama Prasad Mookerjee Port. Among commodities handled at major ports, Petroleum, Oil, and Lubricants (POL)-including crude, petroleum products, and LPG/LNG-led the charts with a volume of 254.5 million tonnes (29.8 per cent), followed by container traffic at 193.5 million tonnes (22.6 per cent), coal at 186.6 million tonnes (21.8 per cent), and other cargo categories such as iron ore, pellets, fertilizers, and more in FY 2024-25. For the first time in the history of major ports, Paradip Port Authority (PPA) and Deendayal Port Authority (DPA) surpassed the 150 Million Tonne (MT) cargo handling mark, reinforcing their status as key hubs of maritime trade and operational excellence, the statement said. Meanwhile, Jawaharlal Nehru Port Authority (JNPA) set a record by handling 7.3 million TEUs (Twenty-foot Equivalent Units), reflecting a 13.5 per cent year-on-year growth, it added. In FY 2024-25, Indian ports collectively allocated 962 acres of land for port-led industrialisation, projected to generate an income of Rs 7,565 crore in FY 2024-25, the statement said. Furthermore, lessees are expected to make an investment of Rs 68,780 crore on the allotted land, reaffirming investor confidence in port-led development, it added. The statement said private sector participation has been instrumental in this transformation, with investments in PPP projects at major ports increasing three-fold, from Rs 1,329 crore in FY 2022-23 to Rs 3,986 crore in FY 2024-25, highlighting strong investor confidence. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
