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

 


$1 Billion In Reparations For Iraq's Invasion Of Kuwait

UN Panel Pays Out Over $1 Billion in Reparations for Iraq's Invasion of Kuwait More>>

UN-Backed Tsunami Warning System Test

A view of the destruction caused by the Indian Ocean tsunami of 26 December 2004 in Point Pedro, a small fishing village in northern Sri Lanka. UN Photo/Evan Schneider More>>

Al Jazeera To Mark 300 Days Since Arrests Of Journalists

• 300 second montage to mark 300 days to be aired on Al Jazeera • Parents of Peter Greste say the past 300 days has been stressful Doha , 23 October, 2014 More>>

4 Months’ Jail For French Journos Should Be Enough

'We hope it will be a lesson for foreigners to not violate their visas in Indonesia.' More>>

Support Needed For Olive Farmers In Palestinian Territory

Olive trees in the Palestinian town of Ni'lin in 2008 were very close to expanding Israeli settlements. Photo: IRIN/Shabtai Gold More>>

ALSO:

Use Of Drones In Law Enforcement May Violate Human Rights

22 October 2014 – The increasing use of armed drones within domestic law enforcement risks depersonalizing the use of force and infringing upon the rights of individual citizens, a United Nations independent human rights expert warned today. More>>

Gaza: Pledges For Aid, Reconstruction Must Be Honoured

Secretary-General Ban Ki-moon (left) addresses the Security Council meeting on the situation in the Middle East, including the Palestinian question. Security Council President for the month of October, María Cristina Perceval of Argentina, is at ... More>>

Ebola: UN Prepares For Arrival Of Trial Vaccines

In early October 2014, with the help of the US Navy, a new mobile laboratory opened at Island Clinic, one of the WHO-supported Ebola Treatment Units (ETU) in Monrovia, Liberia. Photo: WHO/R. Sørenson More>>

Get More From Scoop

 
 
 
 
 
World
Search Scoop  
 
 
Powered by Vodafone
NZ independent news