Business
Salvager hopes to free ship blocking Suez Canal by start of next week
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
Afghanistan signs agreement with DP World to bolster ports infrastructure
The Ministry of Finance of Afghanistan and UAE-based DP World have signed an investment term sheet to modernize key commercial land ports, marking a significant step in enhancing the country’s trade infrastructure.
Abdullah Azzam, Head of the Economic Affairs Office at the Office of the Prime Minister, stated that the agreement opens the door for foreign investment and new contracts.
He said that that under this agreement, Afghanistan’s ports will be modernized and equipped with cutting-edge technology.
The agreement outlines the development of cargo handling facilities, port management systems, and operations using advanced equipment in line with international standards. Hairatan Port will be upgraded in the first phase, followed by Torkham Port in the second phase, with subsequent expansion to logistics corridors, economic zones, and other national projects.
DP World officials emphasized that the modernization of these ports will not only increase trade but also create new employment opportunities.
They highlighted Afghanistan’s strategic location as a vital link between Central and South Asia and pledged continued efforts to support the country’s economic growth.
Economic analysts believe the investment will boost trade efficiency, reduce costs, and enhance the country’s transit capacity. Modernizing the ports is also expected to attract further foreign investment and strengthen Afghanistan’s overall economy.
Business
Pakistan says trade with Afghanistan will remain suspended until security assurances
Pakistan’s Foreign Ministry spokesperson, Tahir Andarabi, stated on Friday that trade with Afghanistan will remain suspended until Islamabad receives firm assurances from Kabul.
The crossings “will remain closed until we receive firm assurances from the Afghan side that violence, violent elements, and terrorists from their soil will not cross over into Pakistan to perpetrate the crimes they have committed,” Andarabi said.
He emphasized that the concern is not limited to the TTP, but also includes Afghan nationals involved in attacks inside Pakistan.
The crossings were closed on October 12 following Pakistani airstrikes in Afghanistan and deadly clashes near the Durand Line.
Despite the closure, Pakistan has allowed the return of refugees and the passage of humanitarian assistance.
Islamabad has repeatedly cited militancy as a key reason for restricting movement along the Durand Line and has called for stronger cooperation from Kabul to prevent attacks and ensure regional security.
The Islamic Emirate has, however, has said it cannot be held responsible for security inside Pakistan.
IEA spokesman Zabihullah Mujahid recently said that trade routes will reopen when strong assurances are obtained from the Pakistani government that it will not use closure as a mean to apply political pressure.
Business
Ariana Afghan Airlines boost air trade with arrival of new cargo aircraft
The Ariana Afghan Airlines press office says this achievement marks an important stride toward strengthening national trade and promoting Afghanistan’s path to economic self-reliance.
Ariana Afghan Airlines has announced a major development in the country’s air-transport sector, confirming that a long-awaited charter cargo aircraft has been officially contracted and will arrive in Afghanistan soon. The move is being hailed as a “significant and facilitative breakthrough” for national traders.
Bakht-ur-Rahman Sharafat, the head of Ariana Afghan Airlines, says the finalization of this contract reflects the leadership’s firm commitment to supporting Afghanistan’s growing trade sector. “This new cargo aircraft is part of Ariana’s broader plan to strengthen exports and provide fast, reliable, and competitive air-transport services for Afghan traders,” Sharafat stated.
According to Ariana officials, the addition of the new cargo aircraft will greatly enhance commercial air-transport services. It is expected to ensure timely delivery of goods, reduce transportation costs, and significantly increase the country’s export capacity.
Economic experts believe this step will not only offer substantial facilities to traders but will also play a key role in Afghanistan’s economic development and the expansion of its export markets.
Ariana’s leadership says the cargo aircraft will open new avenues for accelerating and securing the movement of both export and import goods, while fostering healthy competition within the nation’s aviation sector.
The Ariana Afghan Airlines press office says this achievement marks an important stride toward strengthening national trade and promoting Afghanistan’s path to economic self-reliance.
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