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China, the world's largest crude oil importer, and India, the third-biggest, have increasingly turned to Russian crude this year, buying cargoes at steep discounts as Moscow sought to keep up export volumes after Western countries shunned its oil. Chinese refiners have begun slowing their purchases of Russian crude for December arrivals, according to traders and industry players in China. The lower volumes for December follow strong imports by India of Russian crude in recent months. It's likely that both countries will be keen to buy Russian crude, especially if it comes at a steep discount compared to grades from the Middle East and Africa. Currently, much of the crude China buys from Russia comes from the eastern ports.

LONDON, Nov 21 (Reuters) - European traders are rushing to fill tanks in the region with Russian diesel before an EU ban begins in February, as alternative sources remain limited. The European Union will ban Russian oil product imports, on which it relies heavily for its diesel, by Feb. 5. Part of the influx comes as ICE Futures Europe bans low-sulphur gasoil of Russian origin ahead of EU sanctions. Russian gasoil can still arrive in ARA storage tanks in December, but it must be moved to other tanks from which no delivery can be made, according to ICE. In January 2022, 70,000 tonnes of gasoil were delivered through the Ice gasoil futures exchange's website shows.

☆ Egypt's Suez Canal Economic Zone signs $500 mln contract for container handling terminal
▼ + stars: | 2022-11-15 | by ( ) www.reuters.com time to read: 1 min

CAIRO, Nov 15 (Reuters) - Egypt's Suez Canal Economic Zone has signed a $500 million contract with the Suez Canal Container Company (SCCT) to establish a second container handling terminal in East Port Said, the Suez Canal Economic Zone said in a statement on Tuesday. Reporting by Youssry Mohamed Writing by Alaa Swilam Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ COP27: How Lewis Pugh braved sharks and shipping containers in the world's first swim across the Red Sea
▼ + stars: | 2022-11-10 | by ( George Ramsay | ) edition.cnn.com time to read: +6 min

Lewis Pugh had to contend with large shipping vessels while swimming across the Red Sea. Pugh completed his swim across the Red Sea -- home to some of the world's most biodiverse coral reefs -- in 16 days. The Lewis Pugh FoundationFor sections of the swim, Pugh was joined by open-water swimmer Mariam Saleh Bin Laden – who became the first Arab, first Saudi and first woman to swim from Saudi Arabia to Egypt – and Egyptian swimmer Mostafa Zaki. The purpose of the swim was to shine a spotlight on the world’s coral reefs – home to the earth’s most vibrant marine ecosystems – and their precarious status amid the climate crisis. The Lewis Pugh FoundationThis week, Pugh has traveled to the COP27 climate summit in Sharm El-Sheikh, Egypt – a location he passed during his swim across the Red Sea.

☆ France's Veolia's nine-month revenue jumps nearly 50% on Suez acquisition
▼ + stars: | 2022-11-09 | by ( Dina Kartit | ) www.reuters.com time to read: +1 min

Nov 9 (Reuters) - Revenues at France's Veolia (VIE.PA) jumped 49.1% in the nine months to the end of September, the company said on Wednesday, mostly driven by its takeover of rival Suez earlier this year. The waste and water company's revenues for the period climbed to 30.71 billion euros ($30.92 billion), while its earnings before interest, taxes, depreciation and amortization (EBITDA) rose 5.2% year-on-year to 4.53 billion euros. The acquisition of Suez in February contributed 7.12 billion euros to revenues, with organic growth totalling 13.2% for Veolia and Suez together. "This very good performance is also the result of an integration of Suez ahead of schedule." ($1 = 0.9930 euros)Reporting Dina Kartit Edited by Christian Schmollinger and Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ How Time magazine made more than $100 million with docuseries for Netflix, Amazon, and more by mining its 100-year-old archive
▼ + stars: | 2022-11-08 | by ( Lucia Moses | ) www.businessinsider.com time to read: +6 min

Time Studios has become Time's biggest driver, generating more than $100 million, or 25% of its revenue. It's sold dozens of projects to the likes of Netflix, Amazon, and HBO, including "jeen-yuhs: A Kanye Trilogy." Time Studios has been developing some projects you might not expect from a 100-year-old legendary magazine brand. And of course there's "jeen-yuhs: A Kanye Trilogy," the doc series about now-disgraced Ye that sold to Netflix for a reported $30 million in 2021 after a robust bidding war. The Benioffs' support has allowed Time Studios to deficit-finance, or self-fund, about half its doc projects, enabling it to move at startup speed.

☆ Russia is sending an ice-breaking tanker of oil to China via the Arctic Circle, opening up a faster route to Asian buyers
▼ + stars: | 2022-11-08 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

Russia is sending an ice-breaking tanker of oil to China via the Arctic Circle, Bloomberg data shows. It could open up a quicker route to Asia, with an EU ban on seaborne Russian oil due next month. Its crude oil shipments to the region have already plunged 60% since its February invasion of Ukraine. The measure will bar EU tankers from transporting Russian oil — meaning deliveries to alternative buyers in India, for example, will take 10 times as long. Like India, China has been snapping up Russian crude sold at a discount as Moscow seeks alternative buyers to its European market.

☆ COP27: UAE and Egypt agree to build one of world's biggest wind farms
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: +3 min

The Memorandum of Understanding was signed between the UAE's renewable energy firm Masdar alongside its joint venture with Egypt's main renewable energy developer Infinity and Hassan Allam Utilities, the statement on news agency WAM said. "With this agreement to develop our largest ever project, Masdar is proud to bolster our contribution to Egypt's renewable energy goals," Masdar's CEO Mohamed Jameel al-Ramahi said. When completed, the wind farm would be part of Egypt's Green Corridor initiative, a grid dedicated to renewable energy projects that is aimed at ensuring renewable energy makes up 42% of the country's energy mix by 2035. The wind project would save Egypt an estimated $5 billion in annual natural gas costs, the statement said. Egypt's total installed power capacity was around 59.5 GW in 2019/2020, the country's renewable energy authority said in an annual report.

☆ Maersk sees container demand slowing as recession looms
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +2 min

[1/2] Shipping containers are transported on a Maersk Line vessel through the Suez Canal in Ismailia, Egypt July 7, 2021. REUTERS/Amr Abdallah Dalsh/File PhotoSummarySummary Companies Q3 underlying EBITDA $10.86 bln vs forecast $9.78 blnSees container demand falling 2-4% this yearOSLO, Nov 2 (Reuters) - Shipping group Maersk (MAERSKb.CO) warned on Wednesday of slowing demand for transport and logistics as a global recession looms and cut its forecast for container demand this year, even as it beat third-quarter earnings expectations. Maersk now sees global container demand falling by 2% to 4% this year, citing an unfolding economic slowdown expected to continue into 2023. Reuters GraphicsSkou told Reuters in September he expected ocean freight volumes to be flat or lower this year, though congestion persists in ports and global supply chains. The company repeated it expects underlying EBITDA of around $37 billion this year.

☆ In COP27 host Egypt, Red Sea coral reefs resilient but under stress
▼ + stars: | 2022-10-27 | by ( Mariam Rizk | ) www.reuters.com time to read: +3 min

[1/4] General view of a hotel with pools in Egypt's Red Sea resort of Sharm el-Sheikh town as the city prepares to host the COP27 summit next month, in Sharm el-Sheikh, Egypt October 20, 2022. REUTERS/Sayed Sheasha/File PhotoHURGHADA, Egypt, Oct 27 (Reuters) - Egypt hosts next month's COP27 climate summit at a Red Sea resort, where climate change and human activity are threatening one of the world's most prized coral reefs. These Red Sea reefs, which make up about 5% of the global reef cover, contain the most diversity of species outside of Southeast Asia. "We have in Egypt coral reefs that will be among the last remaining in the world, which means it will provide hope for humanity that a unique ecosystem like this remains alive," Hanafy said. But the Red Sea reefs face other threats, including scuba divers.

☆ Time Studios made $100 million selling documentaries to Netflix and more. Now it's planning to mine the magazine's 100-year-old archives for fictional storytelling.
▼ + stars: | 2022-10-25 | by ( Lucia Moses | ) www.businessinsider.com time to read: +6 min

Time Studios has become Time's biggest driver, generating more than $100 million, or 25% of its revenue. In its most ambitious move yet, Time Studios is also making a push into fictional storytelling. Ian Orefice, president and COO, Time and Time Studios TimeIan Orefice, president and COO of Time and Time Studios, sees scripted as a "massive opportunity. The Benioffs' support has allowed Time Studios to deficit-finance, or self-fund, about half its doc projects, enabling it to move at startup speed. Time Studios also has a huge promotional advantage in Time's existing audience of some 100 million readers and followers on social media.

View of a COP27 sign on the road leading to the conference area in Egypt's Red Sea resort of Sharm el-Sheikh town as the city prepares to host the COP27 summit next month, in Sharm el-Sheikh, Egypt October 20, 2022. The Nov. 6-18 summit in Sharm el-Sheikh is the first annual U.N. climate conference to be held after the easing of COVID-19 restrictions. CONCRETE BARRIERAnother concern among activists is the difficulty ordinary citizens may face accessing Sharm el-Sheikh. A petition led by 12 Egypt-focussed rights groups has called on Egypt to address restrictions on civil society, saying "effective climate action is not possible without open civic space". "Certainly we're very alive to the fact that Sharm el-Sheikh is an enclosed space, very controlled, very curated," she said.

☆ Wave of LNG tankers is overwhelming Europe in energy crisis and hitting natural gas prices
▼ + stars: | 2022-10-24 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +2 min

Two LNG vessels that came from the U.S. are underway to Spain's Huelva port. The underlying infrastructure issue is a lack of European regasification capacity due to a shortage of regasification plants and pipelines connecting countries that have regasification facilities. As a result, the amount of LNG on the water — floating storage — increases and in turn drives down the price of natural gas . Energy experts tell CNBC they are keeping an eye on an EU LNG price cap. Russia, which supplies a large portion of natural gas to Europe, cut gas supplies as a response to sanctions after the country's war with Ukraine.

"East of Suez is sending everything they can ship... it's just a question of how much China exports in November," a Europe-based trader said. Exports from India and the Middle East for October to northwest Europe were at around 480,000 tonnes and 834,000 tonnes respectively, compared with 361,000 tonnes and 511,310 tonnes a month ago, the data showed. The trader estimated that Europe may import about 3 million tonnes (750,000-850,000 barrels per day) from east of Suez in November, of which the Middle East could account for two-third of the volume. Traders expect the bulk of supplies to Europe to come from India and the Middle East, on shorter shipping times. Already soaring diesel prices in the United States have led traders to divert several cargoes heading from the Middle East to Europe to the New York harbour area, further constraining supplies in Europe.

☆ Senator blocks $75 million in U.S. military aid to Egypt over rights concerns
▼ + stars: | 2022-10-17 | by ( Humeyra Pamuk | ) www.reuters.com time to read: +3 min

WASHINGTON (Reuters) - Egypt has missed out on an additional $75 million in American military aid after a senior Democratic U.S. senator blocked the funding over concerns about Cairo’s human rights record including holding political prisoners. We all have a responsibility to uphold the law and to defend the due process rights of the accused, whether here or in Egypt,” Leahy said. The United States allocates around $1.3 billion in military aid to Egypt annually. Talks between his office and the State Department failed to resolve the issue, and the $75 million in funding expired on Sept. 30. The State Department did not immediately respond to a request for comment.

☆ Explainer: When EU embargo comes, where will Russia sell its crude oil?
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +4 min

Register now for FREE unlimited access to Reuters.com Register"Russian Urals oil has always been a grade for Europe. It’s much easier for it to negotiate private deals than publicly commit to some price limitation dictated by the West," another trader involved in Russian oil trading told Reuters. Russia also supplies Europe with around 3.2 million tonnes of oil per month via the Druzhba pipeline. "Small players are definitely not enough for Russian oil to be absorbed. China is the last resort for the Russian oil or Moscow has to cut output eventually," a third trader involved in the Russian oil market said.

☆ Egypt's Suez Canal fee hike won't have a 'massive' impact on trade flows, analyst says
▼ + stars: | 2022-09-19 | by ( Lee Ying Shan | ) www.cnbc.com time to read: 1 min

Egypt announced on Saturday that it will raise transit fees in 2023 for all types of vessels passing through the Suez Canal. According to a statement released by the Suez Canal Authority, transit fees for tankers passing through the canal will rise by 15%. The increase for dry bulk carriers and tourist ships is 10%. "The increase is inevitable and a necessity in light of the current global inflation rates," the authority's chief, Osama Rabiee, said in the statement. He added that the decision factored in the impact of increased energy prices.

☆ Nava Ever Given sechestrată de către Egipt, după ce a blocat Canalul Suez, va fi eliberată
▼ + stars: | 2021-07-06 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: +1 min

Nava Ever Given sechestrată de către Egipt, după ce a blocat Canalul Suez timp de câteva zile, urmează să fie eliberată miercuri în urma unor înțelegeri între proprietarii cargobotului și asiguratorii săi. Suma include costurile deblocării cargobotului şi daunele provocate de sistarea traficului maritim prin Canalul Suez. În urma negocierilor, valoarea despăgubirilor solicitate a fost diminuată până la 550 de milioane de dolari. Nava a eşuat la sfârşitul lunii martie din cauza vântului puternic, blocând ambele sensuri de navigaţie. Traficul naval prin Canalul Suez a fost reluat după aproape o săptămână.

Locations: Egipt, Suez, Canalul Suez

☆ Nava Ever Given va părăsi mâine Canalul Suez, la trei luni după ce a blocat calea navigabilă și a fost sechestrată de Egipt
▼ + stars: | 2021-07-06 | by ( ) www.jurnal.md time to read: +1 min

Sursa foto: ProfimediaNava Ever Given va părăsi mâine Canalul Suez, la trei luni după ce a blocat calea navigabilă și a fost sechestrată de EgiptUn tribunal din oraşul egiptean Ismailia a ridicat marţi ordinul de restricţie care viza nava portcontainer Ever Given, decizie care va permite navei să îşi reia, miercuri, navigaţia prin Canalul Suez, informează Reuters, citând un avocat şi mai multe surse judiciare. Proprietarul navei şi asiguratorii au anunţat duminică un acord cu Autoritatea Canalului Suez (SCA) privind despăgubirile ce vor fi plătite pentru că "Ever Given" a blocat traficul prin canal. Ahmed Ali, un avocat care reprezintă firma japoneză Shoei Kisen, a declarat marţi că a fost informat de o decizie a tribunalului economic din Ismailia prin care este ridicat ordinul de restricţie care viza nava Ever Given. La rândul său, Autoritatea Canalului Suez (SCA) a informat şi ea că navei Ever Given i se va permite miercuri să îşi reia navigaţia. Canalul Suez, care leagă Mediterana de Marea Roşie, asigură cea mai scurtă rută de transport maritim între Asia şi Europa.

Persons: îşi, Reuters, Ahmed Ali Organizations: Autoritatea, Canalului Locations: Suez, Egipt, Ismailia, Canalului Suez, Mediterana, Asia, Europa

☆ Ever Given, nava care a blocat Canalul Suez timp de șase zile, va fi eliberată miercuri
▼ + stars: | 2021-07-05 | by ( ) www.jurnal.md time to read: +2 min

Sursa foto: businessinsider.comEver Given, nava care a blocat Canalul Suez timp de șase zile, va fi eliberată miercuriNava Ever Given va putea părăsi miercuri Canalul Suez, după ce proprietarii și asiguratorii vasului au anunțat că au ajuns la un acord cu autoritățile egiptene, informează The Guardian. Autoritatea Canalului Suez (SCA) a reținut nava și echipajul într-un lac aflat la mijlocul căii navigabile, începând cu 29 martie. Vasul aflat sub proprietate japoneză a rămas blocat pe diagonală în Canalul Suez timp de șase zile la finalul lunii martie, perturbând comerțul mondial. Autoritățile japoneze au anunțat că acordul va fi semnat miercuri, în cadrul ceremoniei, iar participanții la eveniment vor putea să vadă nava plecând. SCA a înregistrat venituri de 3 miliarde de dolari în primele șase luni din 2021, în creștere cu 8,8% comparativ cu aceeași perioadă din anul precedent, în ciuda întreruperii cauzată de Ever Given.

Persons: Osama Rabie, SCA Organizations: Guardian, Autorității, Consiliului Locations: Suez, Canalul Suez, Japonia

☆ Pandemia a dus prețurile la transportul maritim de marfă la un nivel record: „Rămânem fără nave şi containere goale”
▼ + stars: | 2021-07-05 | by ( ) www.jurnal.md time to read: +4 min

Sursa foto: ProfimediaPandemia a dus prețurile la transportul maritim de marfă la un nivel record: „Rămânem fără nave şi containere goale”Preţurile la containerele maritime au atins un nivel record la 18 luni după pandemia de coronavirus, care a perturbat lanţurile logistice în domeniul transportului maritim şi a dus cererea la un nivel record. „Practic rămânem fără nave şi containere goale”, a declarat Alan Murphy, preşedintele firmei de consultanţă Sea Intelligence. Costul unei călătorii spre Europa a depăşit 10.000 de dolari, comparativ cu doar 1.600 de dolari în aceiaşi perioadă a anului trecut. Pandemia de COVID-19, care iniţial a paralizat practic transportul maritim mondial, a provocat "o scădere fără precedent a cererii" în industria de shipping", susţine Didier Rabattu, de la Lombard Odier Investment Managers. Preţul transportului cu containere maritime depinde de nivelul cererii, dar şi de capacitatea existentă la nivelul ofertei pentru a îndeplini cererea.

Persons: Alan Murphy, Murphy, Didier, Paul Tourret, Maersk, Jean, Marc Lacave Organizations: franceză Locations: Asia, China, SUA, Europa, Lombard Odier, Suez, preţurilor, Franţa

Masivă navă a provocat o criză în transportul maritim de marfă la sfârșitul lunii martie, când s-a blocat în Canalul Suez, blocând această rută crucială timp de șase zile, scrie digi24.ro. Chiar după ce a fost deblocată, nu a primit permisiunea de a părăsi Canalul Suez. În primă instanță, a fost reținută pentru inspecție, iar apoi pe 13 aprilie Egiptul a confiscat vasul, cerând compensații. Nava a fost ținută în Marele Lac Amar, o porțiune de apă din canal unde a așteptat cu majoritatea echipajului la bord în timp ce părțile negociau. Egiptul a solicitat compensații începând de la suma de aproape 1 miliard de dolari, însă au redus în timp sumele cerute.

Organizations: UK Club, ACS, Online Locations: Suez, Canalul Suez, Lac

☆ Căpitanul navei „Ever Given, găsit vinovat pentru blocajul din Canalul Suez: „A dat prea multe comenzi în timp scurt”
▼ + stars: | 2021-05-31 | by ( ) www.jurnal.md time to read: +1 min

Sursa foto: businessinsider.comCăpitanul navei „Ever Given, găsit vinovat pentru blocajul din Canalul Suez: „A dat prea multe comenzi în timp scurt”Autoritatea Egipteană a Canalului Suez a stabilit cine este vinovat pentru blocarea căii navigabile vreme de șase zile în luna martie. Datele din cutia neagră arată că acesta a dat prea multe comenzi într-un timp foarte scurt și a pierdut controlul. Autoritățile egiptene cer despăgubiri de peste jumătate de miliard de dolari, pentru a acoperi costurile deblocării, daunele aduse canalului și veniturile pierdute. De altfel, Egiptul a redus semnificativ valoarea despăgubirilor cerute de la proprietarul japonez al navei ''Ever Given'', după ce inițial ceruse 916 milioane de dolari, scrie digi24.ro. De cealaltă parte, proprietarul a învinuit administrația căii navigabile că a permis intrarea în canal în timpul unei furtuni de nisip.

Organizations: Autoritatea Egipteană, egipteni Locations: Suez

☆ Autorităţile egiptene spun cine se face vinovat pentru blocarea navei "Ever Given" în Canalul Suez
▼ + stars: | 2021-05-25 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: 1 min

De vină pentru blocarea navei "Ever Given" în Canalul Suez este doar căpitanul. La această concluzie au ajuns autorităţile egiptene, după ce ancheta a stabilit că, în procesul de orientare a cargobotului, a fost comisă o greșeală. În 23 martie, "Ever Given", cu o lungime de 400 de metri, a eşuat şi a blocat ambele sensuri de navigaţie. Traficul prin canal a fost reluat după aproape o săptămână. Pierderile financiare cauzate de blocarea traficului au fost estimate la aproape 1 miliard de dolari.

Locations: Canalul Suez

☆ Egiptul a renunțat la o mare parte din despăgubirile cerute inițial pentru blocarea Canalului Suez
▼ + stars: | 2021-05-24 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: +1 min

Egiptul a decis să reducă semnificativ valoarea despăgubirilor cerute de la proprietarul japonez al navei ''Ever Given'', care în luna martie a blocat timp de şase zile Canalul Suez, provocând pierderi enorme. Autoritatea Canalului Suez (SCA) cere 550 de milioane de dolari, după ce inițial stabilise o sumă de 916 milioane. La finalul lunii martie, Canalul Suez a fost blocat timp de aproape o săptămână de nava ''Ever Given", cu o lungime de 400 de metri, care a eșuat pe diagonala Suezului, una dintre cele mai aglomerate rute de navigaţie ale lumii. Autoritatea Canalului Suez a solicitat inițial despăgubiri în valoare de 916 milioane de dolari de la firma japoneză Shoei Kisen, care deține nava, şi a sechestrat nava port-container în așteptarea sumei cerute. În prezent, acesta are o lungime de 190 de mile, o adâncime de 24 de metri şi o lăţime de 203 de metri.

Persons: Ossama Organizations: Suez, Rabie Locations: Suez, Canalul Suez, Cairo, Asia

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