Arab Finance: The Suez Canal Authority (SCA) successfully managed the grounding of the RED ZED 1 diving vessel in just 60 minutes with no injuries or human losses reported, according to a statement issued by the authority's Chairman Osama Rabie.

The incident occurred on Friday, June 20th, when the RED ZED 1, transiting the canal as part of the northern convoy, experienced a sudden steering failure at kilometer 45 near the Qantara West ferry dock.

Rabie confirmed that the vessel sustained minor damage, which is currently being assessed, but remains overall safe.

The RED ZED 1, measuring 217 meters in length and 43 meters in width with a capacity of 41,000 tons, was en route from the Netherlands to Sudan at the time of the incident.

Petroelum Ministry completes bid evaluation for 7 oil, gas areas Updated 6/22/2025 2:19:00 AM

No tax hikes in Egypt's new budget; broader tax base planned: Kouchouk Updated 6/22/2025 2:10:00 AM

FRA extends submission deadlines for insurance companies’ financial statements Updated 6/19/2025 11:56:00 AM

Bank NXT, UiPath team up to reinforce Egypt’s banking digital transformation Updated 6/18/2025 1:18:00 PM

Parliament gives final approval for Egypt’s FY2025/26 economic, social development plan Updated 6/18/2025 3:40:00 AM