From Ahram Online:
Emma Maersk, one of the world’s largest container ships that found itself in trouble in Egyptian territorial waters, has been safely tugged to berth Saturday in Port Said East Suez Canal Container Terminal (SCCT), the Danish owned company has stated.
According to a Maersk statement, the 397-metre long vessel cancelled its southbound voyage through the [...]
Egyptian grain buyers, squeezed by droughts in Russia and Australia, bought 165,000 tons of wheat this month from a far-flung source, the Pacific Northwest.
The sellers included Cargill Inc. and Louis Dreyfus Commodities, two of the multinational goliaths involved in contract talks with longshore union leaders as a potential lockout looms at grain terminals in [...]
From Economic Times:
Straddling one of the world’s great sea routes, the Suez Canal corridor is set to become a bridge connecting Africa with Asia if a grand plan by Egypt’s new government comes to fruition. President Mohamed Mursi’s administration is reviving and expanding a series of projects initiated in the late 1990s under former [...]
This London School of Economics and Political Science article exposes the U.S. government’s role in the poor living conditions that led to the Egyptian uprising last year:
When [Egyptian workers and activists] took to the streets last year it was not only against tyranny and political repression, but also against the neoliberal economic order – [...]
A.P. Moeller-Maersk A/S, Europe’s biggest ship owner, may contribute to the building of a navigation side channel in the Suez Canal Container Terminal at Port Said, Egypt’s Ministry of Transport said.
The planned navigation channel will cost 500 million Egyptian Pounds ($83 million), the ministry said today in an e-mail, citing Maersk Chief Executive [...]
APM Terminals boosted earnings 60 percent in 2010 from the previous year as profit from the disposal of a stake in China’s Yantian terminal outweighed the loss of global market share.
The company expanded and upgraded several terminals in 2010 to keep pace with demand, most notably the Suez Canal Container Terminal in Port Said, [...]
Hanjin Shipping, the world’s ninth biggest container shipper, predicted global container shipments would grow up to 8 percent this year, supported by bright trans-Pacific trade prospects.
However, given a better-than-expected 2010 for the container market, chief executive Kim Young-min did not see industry profitability improving amid high oil prices.
From the Manila Bulletin
Global grain companies looked past anti-government protests that toppled Egyptian President Hosni Mubarak on Friday to sell Cairo a large quantity of wheat without raising prices to include any risk premium.
The sale underscored Egypt’s position as the world’s top wheat importer, and more importantly, its reliability on payments even at the height of [...]
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