Business
Traffic in Suez Canal resumes after stranded ship refloated
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
Ariana Afghan Airlines increases Kabul-Delhi cargo flights
Ariana Afghan Airlines has increased cargo flights between Kabul and Delhi to facilitate the transportation of commercial goods and support Afghan traders.
In a statement issued Saturday, the airline said it will now operate two scheduled cargo flights daily on the Kabul-Delhi route, up from one flight per day previously.
The airline said Afghan traders and commercial companies can use the daily cargo services to transport their goods quickly, safely and reliably between Afghanistan and India.
Ariana Afghan Airlines said it is working to further expand and improve its air cargo services to support trade, meet the needs of Afghan traders and facilitate Afghanistan’s exports and imports.
Business
Afghanistan, Turkmenistan agree to establish joint road transport commission
The sides also agreed to establish a joint commission to address road transport issues and improve coordination.
Afghanistan and Turkmenistan have agreed to establish a joint commission on road transport and facilitate transit between the two countries following two days of talks in Herat.
Afghanistan’s Ministry of Transport and Civil Aviation said the meeting brought together technical delegations from both countries to strengthen bilateral transport and transit cooperation.
The talks focused on easing visa procedures for Afghan and Turkmen drivers and traders, operationalising the Lapis Lazuli transit corridor and increasing the movement of transit vehicles between the two countries.
The sides also agreed to establish a joint commission to address road transport issues and improve coordination.
Representatives from Afghanistan’s ministries of foreign affairs, industry and commerce and the railway authority attended the talks, alongside the Ministry of Transport and Civil Aviation. Railway links, bilateral trade and wider transit cooperation were also discussed, with private-sector representatives expected to participate in future discussions.
The agreement comes as Turkmenistan works to strengthen its role as a regional transport and logistics hub, using its road, rail and Caspian Sea infrastructure to connect Central Asia with markets to the west and south.
A key part of that network is the International Seaport of Turkmenbashi, which links Turkmenistan with Azerbaijan and onward routes towards the South Caucasus and Europe.
Turkmenistan’s transport infrastructure also forms part of the wider Middle Corridor, or Trans-Caspian International Transport Route, connecting China and Central Asia with Azerbaijan, Georgia and Türkiye before reaching European markets.
For Afghanistan, the Lapis Lazuli Corridor is particularly important. It connects Afghanistan through Turkmenistan and across the Caspian Sea to Azerbaijan, Georgia and Türkiye, providing a potential route towards European markets.
Rail links such as the Herat-Torghundi line could further connect Afghanistan’s markets with Turkmenistan’s wider transport network.
The latest agreement puts road transport and transit facilitation at the centre of efforts by the two neighbours to expand trade and strengthen regional connectivity.
Business
TAPI gas deliveries to Afghanistan and Pakistan expected to begin in 2027
Turkmenistan regards TAPI as a key project for diversifying its gas exports and strengthening regional economic cooperation.
Turkmenistan expects natural gas supplies to Afghanistan and Pakistan through the Turkmenistan-Afghanistan-Pakistan-India (TAPI) pipeline to begin in 2027, according to the Turkmen Embassy in Islamabad.
Turkmen Ambassador Atajan Movlamov said construction of the strategically important Serhetabat-Herat section of the pipeline is expected to be completed by the end of this year.
Movlamov made the remarks during an Ambassadors’ Dinner hosted by the Lahore Chamber of Commerce and Industry in Islamabad.
He said the implementation of TAPI and other regional energy projects could strengthen Pakistan’s energy security while creating new opportunities for industrial development and economic growth.
The planned 1,800-kilometre pipeline is designed to transport up to 33 billion cubic metres of natural gas annually from Turkmenistan’s giant Galkynysh gas field through Afghanistan to Pakistan and India.
Turkmenistan regards TAPI as a key project for diversifying its gas exports and strengthening regional economic cooperation.
The Galkynysh field, which is the main resource base for TAPI, is among the world’s largest gas fields, with estimated reserves of more than 27 trillion cubic metres.
The project has faced years of delays, but recent construction and developments in the regional energy sector have renewed attention to TAPI as a potential link between Central Asian gas resources and South Asian energy markets.
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