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

 


21 Egyptians Beheaded

Egyptian jets bombed Islamic State targets in Libya on Monday, a day after the group there released a video showing the beheading of 21 Egyptian Christians, drawing Cairo directly into the conflict across its border. More>>

Protests In Bil’in Honoring Slain US Citizens

Protesters at demonstration in Bil’in honoring slain US citizens face attacks and arrests by Israeli forces. More>>

Resolution Targeting Sources Of Financing For ISIL

Ambassadors representing two countries under attack from ISIL, Bashar Ja’afari (right) of Syria, and Mohamed Ali Alhakim of Iraq, speak to journalists following the adoption of a Security Council resolution targeting sources of financing for ... More>>

ALSO:

  • U.S. Department of State - Support for Authorization for Use of Military Force
  • "Pakistan Probably Harboured Osama Bin Laden"

    Former ISI head Lt. Gen. Asad Durrani tells Al Jazeera Pakistan probably harboured Osama Bin Laden More>>

    "Pakistan Probably Harboured Osama Bin Laden"

    Former ISI head Lt. Gen. Asad Durrani tells Al Jazeera Pakistan probably harboured Osama Bin Laden More>>

    ISM Honours Kayla Mueller

    Abdullah Abu Rahma, coordinator of the popular committee in the village of Bil’in where Kayla joined the protests, told ISM: “Kayla came to Palestine to stand in solidarity with us. She marched with us and faced the military that occupies our ... More>>


    US Measles Outbreak: UN Urges Parents Vaccinate Children

    3 February 2015 – Parents in the United States must vaccinate their children against measles in order to maintain the high levels of immunity necessary in keeping outbreaks of the aggressively contagious virus small and contained, the United Nations World ... More>>

    Ebola: Large-Scale Vaccine Trials Under Way In Liberia

    WHO welcomed the donation by the Public Health Agency of Canada of 800 vials of one of the leading candidate Ebola vaccines, rVSV-ZEBOV. Photo: WHO/M. Missioneiro (file) More>>

    Security Council Denounce Murder Of Jordanian Pilot

    3 February 2015 – For the second time in as many days, Secretary-General Ban Ki-moon and the United Nations Security Council have jointly condemned the brutal killing of a civilian by the Islamic State of Iraq and the Levant (ISIL) – this time deploring ... More>>

    Get More From Scoop

     
     
     
     
     
    World
    Search Scoop  
     
     
    Powered by Vodafone
    NZ independent news