His visit to Muscat follows regional travel last week where he met with leaders in Israel, Qatar and Turkey
The Red Sea crisis has slowed trade between Asia and Europe and raised concerns about an escalation of the conflict between Israel and Hamas in Gaza
Several of Qatar’s LNG tankers have resumed sailing through the Red Sea after having been stopped since January 13
Navigation movement in Egypt’s Suez Canal is regular from both directions, says a top official from that country
German shipping firm Hapag-Lloyd will continue to circle around the Cape of Good Hope as issues in the Red Sea remain
The Suez Canal is an important source of dollar revenues for Egypt
Blinken’s visit to the region comes amid an escalation to the crisis in the Middle East
About 12 per cent of world shipping traffic transits the canal and 4-8 per cent of global LNG cargoes have passed through it in 2023
Further attacks on ships in the Red Sea prompted fears of shipping disruptions and on hopes of interest rate cuts that could boost economic growth and fuel demand
Brent crude oil futures fell 32 cents, or 0.4 per cent, to settle at $79.07 a barrel
The Middle East crisis is already raising shipping and insurance costs through the critical Red Sea area
The carrier will serve the Egyptian market with a total of 17 weekly flights
Sindalah is one of NEOM’s 41 islands, which will be home to a world-leading yachting ecosystem
It will be powered by 100 per cent renewable energy from over 760,000 solar panels that Red Sea Global has built to power The Red Sea destination
The destination hopes to be the gold standard for regenerative and sustainable tourism when it opens its doors to travellers later in 2023
An investigation is ongoing
The vessel, able to haul about 700,000 barrels of oil, was holed about 1 meter above the waterline
The startup will offer excavation, backfilling, and earthworks for Triple Bay Marina
The project is expected to add over $5.86bn to the kingdom’s GDP when complete
The attack coincides with an offensive supported by the Saudi-led coalition to retake Yemen’s Houthi-held port city of Hodeidah