Connect with us

Business

Salvager hopes to free ship blocking Suez Canal by start of next week

Published

on

Reuters

A giant container ship grounded in the Suez Canal could be freed by the start of next week if heavier tugboats, dredging, and a high tide succeed in dislodging it, Reuters reported, citing a Dutch firm working to free the vessel.

According to the report, the 400-meter (430-yard) long Ever Given became wedged diagonally across a southern section of the canal amid high winds early on Tuesday, disrupting global shipping by blocking one of the world’s busiest waterways.

About 15% of world shipping traffic passes through the canal, and hundreds of vessels are waiting to pass through the waterway once the blockage has been cleared.

Dredgers had removed some 20,000 tonnes of sand from around its bow by Friday, but tugging operations to free the ship were suspended overnight.

“We aim to get it done after the weekend, but everything will have to work out exactly right for that,” Peter Berdowski, chief executive of Boskalis, told Dutch TV program Nieuwsuur late on Friday.

Boskalis owns Smit Salvage, which was brought in this week to help with efforts by the Suez Canal Authority (SCA) to dislodge the ship.

“The bow is really stuck in the sandy clay, but the stern has not been pushed totally into the clay, which is positive. We can try to use that as leverage to pull it loose,” Berdowski said.

“Heavy tugboats, with a combined capacity of 400 tonnes, will arrive this weekend. We hope that a combination of the tugboats, dredging of sand at the bow and a high tide will enable us to get the ship loose at the beginning of next week.”

Egyptian Prime Minister Mostafa Madbouly on Saturday thanked foreign partners for offers to help refloat the ship and said the SCA’s chairman would brief media shortly on details of the operation to release the ship.

TANKER RATES UP

Shipping rates for oil product tankers nearly doubled after the ship became stranded, and the blockage has scrambled global supply chains, threatening costly delays for companies already dealing with COVID-19 restrictions.

If it drags on, shippers may decide to reroute around the Cape of Good Hope, adding about two weeks to journeys and extra fuel costs.

A total of 288 vessels were waiting to enter or continue their transit through the canal as of Friday, including 65 container ships, 63 bulk carriers and 23 liquefied natural gas (LNG) or liquefied petroleum gas (LPG) carriers, according to a shipping source.

Three shipping agents said on Saturday that none of the ships waiting at the canal’s entrances had yet requested to be rerouted.

Boskalis and Smit Salvage have warned that using too much force to tug the ship could damage it.

Berdowski said a land crane would be brought in at the weekend which could lighten the Ever Given’s load by removing containers, though experts have warned that such a process could be complex and lengthy.

“If we don’t succeed in getting it loose next week, we will have to remove some 600 containers from the bow to reduce the weight,” he said.

“That will set us back days at least, because where to leave all those containers will be quite a puzzle.”

Business

Afghani strengthens nearly 10% against US dollar amid banking sector reforms

The bank said it has expanded oversight of financial institutions and private lenders, improving transparency and promoting more consistent standards across the sector.

Published

on

Afghanistan’s central bank, Da Afghanistan Bank, says the national currency has appreciated by 9.93% against the US dollar during the year 1404, citing steady progress in the country’s financial and banking systems.

Officials attributed the gains to cautious monetary policies that have helped stabilise the Afghani against major global currencies while also boosting its value against the dollar.

The bank said it has expanded oversight of financial institutions and private lenders, improving transparency and promoting more consistent standards across the sector.

As part of efforts to better manage liquidity, authorities also collected and destroyed worn-out banknotes in circulation. At the same time, officials reported growth in electronic banking, with digital payment usage rising in recent months.

Central bank spokesperson Haseebullah Noori said initiatives are underway to broaden access to banking services nationwide, including the wider rollout of Islamic banking options.

Analysts welcomed the stabilisation efforts but stressed the need to address ongoing challenges facing domestic banks, including the impact of international financial sanctions on Afghanistan.

They added that expanding Islamic banking could help draw more savings into the formal financial system, noting that a significant share of personal wealth remains outside banks. Bringing those funds into the sector, they said, could inject billions of Afghanis into the economy and further support financial stability.

Continue Reading

Business

Uzbekistan delivers over 290 tons of aid to Afghanistan

The assistance, provided ahead of Eid al-Fitr, is intended to support vulnerable communities while reinforcing ties between the neighboring countries.

Published

on

Uzbekistan has delivered more than 290 tons of humanitarian aid to Afghanistan, according to the country’s Ministry of Foreign Affairs.

The assistance, provided ahead of Eid al-Fitr, is intended to support vulnerable communities while reinforcing ties between the neighboring countries.

The shipment includes essential food supplies such as flour, rice, wheat, vegetable oil, instant meals, pasta, and confectionery. An official handover ceremony was held in the border town of Hairatan.

Local officials, including Balkh province representatives and authorities from Hairatan, expressed appreciation for the continued support, acknowledging Uzbekistan’s efforts to assist the Afghan people.

Among those present at the ceremony were Uzbekistan’s Ambassador to Afghanistan, Oybek Usmanov, and Surkhandarya regional governor Ulugbek Kosimov.

The aid delivery underscores Uzbekistan’s ongoing humanitarian engagement and its broader efforts to promote regional cooperation and stability.

Continue Reading

Business

Turkmenistan, Afghanistan discuss steps to speed up land acquisition for TAPI pipeline

By the end of the year, the vessels are expected to deliver about 11,700 pipes as part of preparations for construction of the TAPI pipeline.

Published

on

Officials from Turkmenistan and Afghanistan have held talks aimed at accelerating land acquisition for the long-planned Turkmenistan-Afghanistan-Pakistan-India (TAPI) pipeline, according to Afghanistan’s Ministry of Agriculture, Irrigation, and Livestock.

The issue was discussed during a meeting between TAPI project head Murad Amanov, Afghanistan’s acting Minister of Agriculture, Irrigation, and Livestock Mullah Attaullah Omari, and Turkmenistan’s ambassador to Afghanistan Hoja Ovezov.

Amanov briefed Afghan officials on recent progress and emphasized the need to accelerate procedures related to land acquisition and the determination of land prices in line with the framework agreement signed by the four participating countries.

Meanwhile, vessels operated by the Azerbaijan Caspian Shipping Company (ASCO), part of AZCON Holding, have begun transporting pipes for the project. The shipments are being carried from the Port of Baku to the Turkmenbashi International Seaport.

By the end of the year, the vessels are expected to deliver about 11,700 pipes as part of preparations for construction of the TAPI pipeline.

Continue Reading
Advertisement
Advertisement
Advertisement
Advertisement

Trending

Copyright © 2025 Ariana News. All rights reserved!