World Video | Defence | Foreign Affairs | Natural Events | Trade | NZ in World News | NZ National News Video | NZ Regional News | Search

 


Egypt:Ongoing unrest, rise in piracy make shipowners nervous

6th March 2013

Egypt: Ongoing unrest and rise in piracy make shipowners more nervous than toll hike

Egypt’s plans to raise Suez Canal tolls in May appears to be less of an issue than current unrest in the country and escalating violence along the canal

The 120-mile long Suez Canal, which for decades has been an important shortcut connecting the US and Europe with the Indian Ocean and its Asian ports, faces the threat of closure. Today, many ship owners, concerned that there will be delays in cargo reaching their destination due to on-going unrest in Egypt, are looking at alternative routes to avoid the canal. However, high fuel costs are deterring some ship owners from re-routing.

Typhon believes that its anti-piracy deterrent protection model can assist ship owners with transiting the canal safely and passing through piracy zones instead of feeling as though they have no choice but to consider re-routing which would result in a more expensive and longer journey.

Typhon’s services also comprise ports security- a service which the Egyptian government could potentially incorporate into its coastal protection model, with protesters said to be blockading vessels. Some governments are employing the services of professional protection companies for guarding their country’s ports, particularly ports to which extremely valuable cargo such as oil is transported.

Ant Sharp, CEO of Typhon, said, “Shipping companies are concerned that escalating tensions in Egypt are affecting wider trade with the country. The unrest which includes some disruptions along the Suez Canal is a major cause for concern for shipowners, charterers and the government. Re-routing will be a big issue for Egypt which heavily depends on the fees it charges ships for permission to transit the canal. In short, one of Egypt’s major sources of foreign revenue is the canal. Revenue has been in decline for several years due to a decrease in transits and the rise of piracy off the coast of Somalia.

“Should Egypt continue to increase transit toll fees to boost revenues and should there be a rise in shipowners re-routing and an increase in piracy due to incessant unrest, the steady decline of the country will only continue and countries will cease to trade with Egypt”.

Ant concluded, “But if shipowners really weigh up the pros and cons, in terms of cost savings, they will see that the massively high fuel prices involved in re-routing around say the Cape of Good Hope, would be more expensive than incorporating a bespoke private protection model, like that of Typhon’s, into their business and transiting the canal”.

ABOUT TYPHON

Typhon is the first naval-grade private convoy protection for 220 years.

The company’s mother-ship, marines and fast patrol boats carry a satellite-led early warning system (‘ATLAS’) detecting potential threats at long range.

Typhon is operated by senior ex-RN and RM officers, with the backing of two major international shipping companies.

The board includes Simon Murray CBE, General Lord Dannatt, General Deverell and Admiral Ulrich (USN 4*).

Typhon’s fully Integrated Protection Model reduces shippers’ risks and costs.

The company was recently featured in the Sunday Times (here and here) and Daily Telegraph (http://www.telegraph.co.uk/news/worldnews/piracy/9016188/Typhon-fights-back-against-pirates.html)

ENDS

© Scoop Media

 
 
 
 
 
World Headlines

 

Tel Aviv: 10,000 Protest In Tel Aviv For Peace & End To Occupation

Under a coalition of Israeli left-wing political parties and organizations, thousands gathered in Tel Aviv’s Rabin Square in the largest anti-war demonstration since the outbreak of violence in Gaza. More>>

ALSO:

Al Jazeera: Amal Alamuddin Lays Down Law On Jailing Journalists In Egypt

Amal Alamuddin, leading human rights lawyer, and expert on Egyptian legal system, has detailed the injustices in the Egyptian trial of three Al Jazeera English journalists in an incisive opinion piece for the Huffington Post. More>>

Ebola:UN Health Agency Reports Encouraging Signs In Nigeria

UNICEF and Partners take to the streets of Conakry, the capital of Guinea, to provide information on how to combat the Ebola outbreak as well as distribute soap and chlorine. Photo: UNICEF Guinea More>>



Indigenous Tribes: Peru Criticized For Failing Its Most Vulnerable Citizens

Peru Criticized for Failing Its Most Vulnerable Citizens Several weeks after seven uncontacted Indians emerged near the Brazil-Peru border, more uncontacted Indians have made first contact with Brazilian government agents, reportedly fleeing attacks ... More>>

Iraq: UN Declares Iraq ‘Level 3 Emergency’

The distribution of tents and non-food aid continues as the population of Newroz camp grows as more and more Yazidis arrive from Mount Sinjar in Iraq. Photo: UNHCR More>>

Ebola: Ebola: UN Says More Than 1 Million People Affected

Secretary-General Ban Ki-moon today convened a United Nations system-wide coordination meeting in response to the current Ebola outbreak in West Africa, which is now affecting more than 1 million people in the so-called “hot zone of disease transmission” ... More>>


UN News: ‘World Must Act Now’ To Avert Famine In Somalia

A United Nations human rights expert today urged the international community to “act now” to avert a humanitarian disaster in Somalia, where a widening hunger crisis has sparked fears of a repeat of the 2011 famine that devastated the war-ravaged ... More>>

Get More From Scoop

 
 
 
 
 
World
Search Scoop  
 
 
Powered by Vodafone
NZ independent news