World News
Suez Canal Authority Expects Normalisation of Traffic From Late March: Report
The Suez Canal Authority expects traffic through the waterway to start returning to normal from late March as the risk of Houthi attacks in the Red Sea and Gulf of Aden subsides.
The authority expects a gradual return to normal traffic from late March and a full recovery by the middle of this year, news agency Bloomberg reported on Monday, citing comments from SCA Chairman Osama Rabie.
The ceasefire in Gaza has led to Yemen's Houthi movement halting attacks on ships other than Israeli ones, after more than a year of attacks that prompted most leading shipping companies to avoid the region altogether and stop using the Suez Canal.
Currently no more than 32 ships per day pass through the canal, down from 75 ships per day prior to the war in Gaza, the report cited Rabie as saying.
A full return to ships using the Suez Canal would depend on the ceasefire in Gaza remining in place, a prospect that looks uncertain this week with renewed disputes on hostage releases.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 577.50 | 3.00 | 698.00 | 7.50 |
| Rotterdam | 546.00 | 0.00 | 675.50 | 8.00 |
| Houston | 563.00 | 3.00 | 732.00 | 6.50 |
| Fujairah | 570.50 | 4.00 | 761.00 | 3.00 |
| Global 20 Ports Average | 599.00 | 2.00 | 785.00 | 5.50 |
| Global 4 Ports Average | 564.00 | 2.50 | 716.50 | 4.50 |
| Global Average Bunker Price | 643.00 | 0.50 | 826.00 | 2.50 |
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