Container ships pass under the Suez Canal Bridge. A tugboat sank in the canal on Saturday after colliding with a Hong Kong-flagged tanker. Reuters
Container ships pass under the Suez Canal Bridge. A tugboat sank in the canal on Saturday after colliding with a Hong Kong-flagged tanker. Reuters
Container ships pass under the Suez Canal Bridge. A tugboat sank in the canal on Saturday after colliding with a Hong Kong-flagged tanker. Reuters
Container ships pass under the Suez Canal Bridge. A tugboat sank in the canal on Saturday after colliding with a Hong Kong-flagged tanker. Reuters

Body of missing crew member on sunken Suez Canal tugboat retrieved


Kamal Tabikha
  • English
  • Arabic

The body of Sayed Moussa, a crew member onboard a Suez Canal tugboat that sank in the waterway after colliding with a US-bound tanker on Saturday, has been returned to his family, the canal’s administrators have said.

Mr Moussa was reported to be missing on Saturday, but rescuers managed to extract his body on Sunday night and transport it to a nearby hospital to be handed over to his family, the Suez Canal Authority said, offering condolences to his family.

A mechanic from Port Said, Mr Moussa was one of seven crew members aboard the tugboat.

The vessel, which was struck by the Hong Kong-flagged tanker, Chinagas Legend, which was heading to the US from Singapore, was lost beneath the waters and, following a search, was located on Saturday night, Suez Canal Authority chairman Admiral Osama Rabie said.

Six of the seven crew members on board the tugboat at the time of collision were rescued and taken to a nearby hospital where they received treatment.

Mr Moussa was reportedly trapped inside the tugboat’s accommodation cabin.

Five of the injured crew members have been discharged from hospital, while one remains under observation, the authority said.

The wreckage of the tugboat, which sank after its hull sustained significant damage in the collision with the tanker and quickly filled up with water, has not yet been extracted from the water, the authority said.

Efforts to extract the wreckage are still under way, but the authority said these efforts would not affect maritime traffic through the canal.

The canal is the shortest shipping route between Europe and Asia. The Suez Canal Authority is working to expand southern sections of the waterway after a giant container ship, the Ever Given, got stuck there in 2021, blocking traffic for six days.

Tolls paid by ships traversing the canal are among Egypt's main sources of foreign currency.

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Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

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Platforms: PlayStation 5, Xbox Series X/S, PC

Rating: 4.5/5

Test squad: Azhar Ali (captain), Abid Ali, Asad Shafiq, Babar Azam, Haris Sohail, Imam-ul-Haq, Imran Khan, Iftikhar Ahmed, Kashif Bhatti, Mohammad Abbas, Mohammad Rizwan(wicketkeeper), Musa Khan, Naseem Shah, Shaheen Afridi, Shan Masood, Yasir Shah

Twenty20 squad: Babar Azam (captain), Asif Ali, Fakhar Zaman, Haris Sohail, Iftikhar Ahmed, Imad Wasim, Imam-ul-Haq, Khushdil Shah, Mohammad Amir, Mohammad Hasnain, Mohammad Irfan, Mohammad Rizwan (wicketkeeper), Musa Khan, Shadab Khan, Usman Qadir, Wahab Riaz 

What are NFTs?

Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.

You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”

However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.

This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”

This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.

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Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

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Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

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Bharat

Director: Ali Abbas Zafar

Starring: Salman Khan, Katrina Kaif, Sunil Grover

Rating: 2.5 out of 5 stars

Updated: August 07, 2023, 11:34 AM