Energean FPSO crossing marks ‘first-of-its-kind’ in Suez Canal history
Crossing of Energean Power FPSO marks ‘first-of-its-kind in history of Suez Canal’ Offshore Energy reported in early May that the Energean Power FPSO had left Sembcorp Marine’s Admiralty Yard in Singapore, heading to Israel. With this milestone achieved, Energean remained on track to deliver the first gas from the Karish project in 3Q 2022. In a social media update on […]
LNG carriers will pay full rate to transit the Suez Canal starting today
LNG carriers will pay the full rate to transit the Suez Canal starting today, the Suez Canal Authority (SCA) announced yesterday. SCA chief Osama Rabie said in a televised interview last night that the move came amid rising demand for natural gas. Vessels transporting natural gas had enjoyed a 25% reduction in transit fees, a figure that […]
Suez Canal Authority to reduce discount for LNG carriers by 10%
LNG carriers crossing the Suez Canal will only be getting a 15% cut to transit fees starting 1 November, down from 25% previously, according to a circular the Suez Canal Authority released yesterday. The decision to effectively hike fees for LNG carriers comes amid the global shortage of natural gas, which has sent prices to a 13-year high last month, […]
Suez Canal emerges as preferred route for US LNG carriers
Suez Canal beating out Cape as Panama alternative for US LNG shippers: The Suez Canal in recent weeks has been the preferred shipping route for US LNG carriers heading to East Asia and looking to avoid a highly congested Panama Canal, according to Argus Media. Shippers are finding that the shorter journey offered by Suez […]
Global oil demand slump hits Egypt’s SUMED pipeline
Egypt’s Sumed oil pipeline is feeling the effects of the global demand slump: Egypt’s Sumed pipeline has recently been operating at only a quarter of its capacity due to a historic slump in global demand for oil and the subsequent production cuts that were introduced in May, data compiled by Bloomberg shows. Flows through the […]
Suez Canal reduces its LNG carrier transit fees for a three-month period
Suez Canal cuts LNG carrier tolls: Suez Canal Authority has decided to adjust the rates for LNG carriers for a three-month period starting April 1. The authority noted that the liquefied natural gas tankers crossing the Suez Canal will see the regular transit fee cut from 25 to 30 percent. In addition, LNG carriers, loaded […]
Egypt launches two fuel supply carriers with $14 million investment
The Egyptian ministry of petroleum and mineral resources has launched two oil tankers in Port Said and Suez to supply vessels with fuel with total investment of $14 million (EGP 221 million), Ahram Gate reported on Sunday. The two oil tankers are launched by Misr Petroleum Company, boosting the company’s ship-refuelling sector and bringing the […]
Suez Canal increases discount for LNG carriers by 15%
Suez Canal chases US LNG export cargoes: Egyptian waterway offers hefty rebate for gas carriers sailing non-stop from America to Asia. The Suez Canal has laid down the gauntlet to the Panama Canal in the chase for transits by LNG carriers carrying US LNG exports. The Suez Canal Authority has decided to increase the port fee discount […]
Suez Canal amends regulations to encourage LNG carrier traffic
Suez Canal Authority has decided to amend the regulations related to the residue cargo requirements for liquefied natural gas (LNG) carriers. According to the SCA notice, the allowed residues of LNG cargo shall not exceed 5 percent of the vessel’s summer deadweight instead of 2 percent to grant the LNG vessels the privilege of ballast […]
President Sisi inaugurates giant Offshore Support Vessel Ahmed Fadel
President Abdel Fatah al-Sisi has inaugurated on Saturday the giant Offshore Support Vessel, named Ahmed Fadel, which has joined the Suez Canal fleet in June 2017. The giant vessel is one of the most modern of its kinds in the Middle East with $40 million total investments, according to a statement issued by the Suez […]
