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SCA

Suez Canal Authority says door still open to negotiation with container ship owner

Suez Canal Authority says door still open to negotiation with container ship owner

Published 25 May, 2021 05:54pm
  • The Ever Given, one of the world's largest container ships, became jammed across the canal in high winds on March 23, halting traffic in both directions and disrupting global trade.
  • On Sunday the court rejected a claim by Shoei Kisen, the Japanese owners of the vessel, to have the vessel released from detention.
Suez Canal starts dredging work to extend double lane

Suez Canal starts dredging work to extend double lane

Updated 15 May, 2021 07:06pm
  • The SCA announced this week that it was planning to extend a second canal lane that opened in 2015 by 10 km to make it 82 km long, and would widen and deepen a single lane stretch at the southern end of the canal.
  • The work had begun following directives from Egyptian President Abdel Fattah al-Sisi "to immediately start implementing the proposed development plan and put in place a timetable for completion as soon as possible".
Fitch Ratings gets UAE regulator license

Fitch Ratings gets UAE regulator license

Published 14 Apr, 2021 05:52pm
  • The license, effective as of April 6, allows Fitch to provide credit ratings for "onshore" entities listed in SCA-controlled stock exchanges, including the Dubai Financial Market and Abu Dhabi Securities Exchange, Fitch said in a statement.
Suez Canal shipping backlog ends, days after giant vessel freed

Suez Canal shipping backlog ends, days after giant vessel freed

Published 03 Apr, 2021 06:24pm
  • The last 61 ships, out of 422 ships that were queuing when the vessel was dislodged on Monday, passed through the vital trade artery on Saturday, the Suez Canal Authority (SCA) said.
    • In total, 85 ships had been due to pass through the canal on Saturday including 24 ships that arrived after Ever Given was dislodged, the SCA said.
UAE listed companies must have at least one female board member

UAE listed companies must have at least one female board member

Updated 15 Mar, 2021 09:26pm
  • The move, an amendment of a previous decision by the authority's board, is "in the context of keenness to empower Emirati women and encourage them to play a greater role in the boards of directors of listed companies," the SCA said in a statement on Sunday.
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