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

 

Peace Deal ‘first Step’ In Resolving South Sudan Crisis

Children at a protection of civilians site in Juba, South Sudan, run by the UN Mission, perform at a special cultural event in March 2015. UN Photo/JC McIlwaine More>>

Yemen: Killing Or Maiming An Average Of Eight Children A Day

Killing or maiming an average of eight children a day, ‘brutal’ Yemen conflict must end – UNICEF More>>

Changing Habits/behaviours Key To Overcome Vaccine Hesitancy

Vaccine hesitancy can be caused by factors such as negative beliefs based on myths, misinformation. Fear of needles can be a factor for refusal. Photo: PAHO/WHO More>>

Burundi: Ban Condemns Assassination Of Senior Army Officer

Refugees from Burundi in South Kivu, Democratic Republic of the Congo (DRC). Photo: OCHA/Naomi Frerotte United Nations Secretary-General Ban Ki-moon has condemned the assassination Burundi’s former Army Chief of Staff, Colonel Jean Bikomagu, who ... More>>

Deadly Industrial Explosions In Northern China

United Nations Secretary-General Ban Ki-moon has been deeply saddened to learn of the loss of life and the injuries to scores of people as a result of deadly explosions in Tianjin, China. More>>

UN Urges Action To Tackle Deepening Refugee Crisis In Greece

A group of Syrian refugees arrive on the island of Lesbos after travelling in an inflatable raft from Turkey, near Skala Sykaminias, Greece. Photo: UNHCR/A. McConnell More>>

Probe Into Those Responsible For Chemical Weapons In Syria

The US Vessel Cape Ray, on which all 581 metric tonnes of a precursor chemical for sarin gas were removed from Syria and safely destroyed as the ship sailed in international waters in 2014. Photo: US Dept. of Transportation More>>

Myanmar Election: UNICEF Urges Prioritisation Of Children

With 99 days to go before Myanmar elections, UNICEF urges candidates make children the clear winner More>>

Liberia Thousands Of Unregistered Children Born During Ebola Crisis

Thousands of unregistered children born in Liberia during Ebola crisis at risk of exploitation – UNICEF More>>

UN Refugee Agency Envoy Angelina Jolie Visits Myanmar

UNHCR Special Envoy Angelina Jolie Pitt (left) in Myitkyina township, Kachin State, Myanmar, meeting with some of the 100,000 displaced people who currently live there. Photo: UNHCR/T.Stoddart More>>

Get More From Scoop

 
 
 
 
 
World
Search Scoop  
 
 
Powered by Vodafone
NZ independent news