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Traffic in Suez Canal resumes after stranded ship refloated

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Reuters

Shipping traffic through Egypt’s Suez Canal resumed on Monday after a giant container ship that had been blocking the busy waterway for almost a week was refloated, Reuters reported, citing the canal authority.

According to the report, the 400-meter (430-yard) long Ever Given became jammed diagonally across a southern section of the canal in high winds early last Tuesday, halting traffic on the shortest shipping route between Europe and Asia.

Live footage on a local television station showed the ship surrounded by tug boats moving slowly in the center of the canal. The station, ExtraNews, said the ship was moving at a speed of 1.5 knots.

“Admiral Osama Rabie, the Chairman of the Suez Canal Authority (SCA), announces the resumption of maritime traffic in the Suez Canal after the Authority successfully rescues and floats the giant Panamanian container ship EVER GIVEN,” a statement from the SCA said.

“She’s free,” an official involved in the salvage operation said.

After dredging and excavation work over the weekend, rescue workers from the SCA and a team from Dutch firm Smit Salvage had succeeded in partially refloating the ship earlier on Monday using tug boats, two marine and shipping sources said.

Evergreen Line, which is leasing the Ever Given, confirmed the ship had been successfully refloated and said it would be repositioned and inspected for seaworthiness.

At least 369 vessels are waiting to transit the canal, including dozens of container ships, bulk carriers, oil tankers and liquefied natural gas (LNG) or liquefied petroleum gas (LPG) vessels, the SCA’s Rabie said.

The authority said earlier it would be able to accelerate convoys through the canal once the Ever Given was freed. “We will not waste one second,” Rabie told Egyptian state television.

He said it could take from two-and-a-half to three days to clear the backlog, and a canal source said more than 100 ships would be able to enter the channel daily. Shipping group Maersk said the knock-on disruptions to global shipping could take weeks or months to unravel.

Egyptian President Abdel Fattah al-Sisi, who had not publicly commented on the blockage, said Egypt had ended the crisis and assured resumption of trade through the canal.

Oil prices were about one percent lower at $63.95 a barrel. Shares of Taiwan-listed Evergreen Marine Corp – the vessel’s lessor – rose 1.75%.

About 15% of world shipping traffic transits the Suez Canal, which is an important source of foreign currency revenue for Egypt. The stoppage is costing the canal $14-$15 million a day.

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

Maersk was among shippers rerouting cargoes around the Cape of Good Hope, adding up to two weeks to journeys and extra fuel costs.

Business

Uzbekistan, Kazakhstan target Afghanistan in push to expand regional trade

According to Uzbek media, the initiative was discussed during the Uzbek-Kazakh Business Forum in Tashkent.

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Uzbekistan and Kazakhstan are seeking to deepen economic cooperation and jointly expand into new regional markets, including Afghanistan, as part of broader efforts to strengthen trade and investment across Central Asia and the Middle East.

According to Uzbek media, the initiative was discussed during the Uzbek-Kazakh Business Forum in Tashkent, where business leaders and trade associations from both countries explored opportunities to promote their products in third-country markets, particularly Afghanistan, Syria and Iraq.

Afghanistan featured prominently in the discussions, with participants noting that Kazakhstan’s exports to Afghanistan reached nearly $500 million during the first seven months of 2025—almost matching the country’s total exports to Afghanistan for all of 2024. Officials said the long-term goal is to increase exports to $3 billion.

The forum also highlighted growing imports of mineral raw materials from Afghanistan. Participants discussed a proposed agreement to supply Afghan zinc ore to the Almalyk Mining and Metallurgical Complex in Uzbekistan.

Beyond Afghanistan, delegates examined emerging business opportunities in Syria and Iraq, where reconstruction efforts are expected to drive demand for food products, construction materials and industrial goods.

The forum also focused on improving regional logistics. Officials discussed using available capacity on Turkish freight trucks transiting Uzbekistan, a move expected to reduce transport costs and improve access to regional markets.

At the conclusion of the forum, both sides agreed to organise joint business missions to third-country markets, including Aleppo, Syria, in late September and Erbil, Iraq, in early October, with the aim of strengthening commercial partnerships and identifying new investment opportunities.

The discussions reflect growing economic cooperation between Uzbekistan and Kazakhstan as both countries seek to expand regional connectivity, diversify exports and strengthen trade links with neighbouring markets, including Afghanistan.

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Uzbekistan’s Fergana region strengthens economic ties with Afghanistan

The meeting followed a Fergana delegation’s visit to Afghanistan on July 26-27, during which officials and business representatives held talks in Kabul and Mazar-i-Sharif.

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Uzbekistan’s Fergana region is moving to deepen economic cooperation with Afghanistan after officials and business leaders agreed to fast-track joint investment projects and expand bilateral trade.

According to a statement from the Fergana Regional Administration, Governor Khayrullo Bozorov met with leading Afghan business figures, including Emerald Diamond Trading Director Abdul Hamid Anyuri, Kam Air Director Atilla Azimi, Tojmahal Petroleum Director Abdul Latif Nawruzi, and their regional partners to discuss practical measures for strengthening economic ties.

The meeting followed a Fergana delegation’s visit to Afghanistan on July 26-27, during which officials and business representatives held talks in Kabul and Mazar-i-Sharif. The delegation also inaugurated Fergana Trade Houses in both cities to promote trade and commercial cooperation.

“The parties agreed to accelerate the implementation of joint investment projects, increase bilateral trade and elevate cooperation to a new level,” the regional administration said.

Discussions focused on turning agreements reached during the Afghanistan visit into practical projects, identifying new investment opportunities, and expanding trade between the two sides. Afghan business representatives expressed interest in working with Fergana companies in key sectors including trade, agriculture, aviation, energy and logistics, while presenting several new investment initiatives.

Bozorov reaffirmed Fergana’s commitment to strengthening economic relations with Afghanistan, saying the regional administration stands ready to support joint projects and create favourable conditions for closer business cooperation.

The regional administration said the meeting reflects growing momentum in economic engagement between Uzbekistan and Afghanistan, with both sides seeking to expand cross-border trade, attract investment and develop new commercial partnerships as part of broader efforts to strengthen regional economic connectivity.

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Business

Afghanistan invites Iranian investors to expand economic cooperation

Discussions focused on expanding private-sector cooperation, increasing joint investment, and boosting bilateral trade between the two countries.

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Afghanistan has invited Iranian investors to explore business opportunities and participate in joint economic projects as the country seeks to strengthen investment and trade ties with its western neighbor.

Kamaluddin Tawhidi, head of the Afghanistan-Iran Joint Chamber of Commerce, made the appeal during a visit to Iran, where he attended the “Economic Cooperation Opportunities with Afghanistan” conference in Alborz Province, according to Iran’s state broadcaster.

Speaking at the event, Tawhidi highlighted Afghanistan’s investment potential and encouraged Iranian businesses to take advantage of opportunities across a range of economic sectors.

Discussions focused on expanding private-sector cooperation, increasing joint investment, and boosting bilateral trade between the two countries.

Tawhidi said stronger economic partnerships could create new business opportunities and support broader regional economic growth.

The meeting comes as Afghanistan continues efforts to attract foreign investment and deepen economic cooperation with neighboring countries.

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