As angry protesters rampaged through Cairo in early 2011 and fought with police, Hesham Samy was dispatched with fellow naval commandos to guard upscale residential compounds. In what he saw as “awful” security, Samy spotted an opportunity.
Israeli Prime Minister Benjamin Netanyahu arrives in China today to tighten economic ties and urge China’s new leaders to clamp down harder on Iran and its ally Syria, amid reports of Israeli airstrikes there.
Exxon Mobil Corp., the world’s biggest energy company by market value, booked two tankers to haul oil to the U.S. Gulf Coast via the Suez Canal in May at what may be this year’s lowest rates, a shipbroker said.
Maersk Line, the world’s biggest container shipping company, will stop using the Panama Canal to transport goods from Asia to the U.S. East Coast as bigger ships help the company move them profitably through Suez Canal.
Ships transiting the Suez Canal, which handles about 8 percent of world trade, slid by 16 percent last month amid riots that led the Egyptian military to bolster security in order to keep the waterway open.