China’s port operator Hutchison Ports inked a memorandum of understanding (MoU) with Egypt regarding the establishment of a container terminal in Egypt’s port of Abu Qir, Alexandria. The MoU was signed during a meeting in Cairo, Tuesday.
In line with its policy to achieve pricing flexibility and as part of its vision to sustainability, the Egyptian Government announced a package of incentives and discounts reaching up to 45% on the fees of navigational aids and lighthouses.
A new round of the EU-Egypt Energy Dialogue takes place with the kick off of cooperation between the Ministry of Petroleum and the Port of Antwerp. Namely, several topics of common interest were discussed in order to advance the implementation of the Memorandum of Understanding (MoU) on strategic cooperation in energy that was signed between the EU and Egypt in April 2018.
Egypt’s Ministry of Transport announced the completion of a new multi-purpose terminal in Damietta Port, which is expected to enable the port welcome bigger ship sizes and types. The multi-purpose terminal has an anticipated capacity of about 4 million tons per year.
APM Terminals announced its collaboration with the Government of Egypt on the final pieces of the jigsaw that will ensure the success of Egypt Vision 2030 for Port Said East Port and the Suez Canal Container Terminal (SCCT). Once ready, it plans to regain its position as one of the most competitive ports in the South and East Mediterranean region.
The Suez Canal Authority aims to increase the Suez Canal’s revenues by as much as $1bn, Mohab Mamish, the chairperson of SCA informed. During the first year of its operation the canal achieved revenues worth a total of $600m. In addition to the $600m revenues, approximately 20,000 vessels crossed the canal per year. These ships carried over 1bn tonnes of cargoes.
Egypt’s Ministry of Antiquities announced that archaeologists discovered an ancient port on the Nile River that was once used to transport stone for temple-building. The discovered area could be conclusively identified as a port by its fittings and carved heiroglyphic instructions for mooring.
Standard Club released a statement according to which direct trade between Qatar and seven states, also known as ‘restricted states’, Bahrain, Saudi Arabia, the United Arab Emirates, Egypt, Yemen, Libya and the Maldives remains restricted or prohibited.
Eni, Italian oil company, has made a new gas discovery under evaluation in the Nour exploration prospect located in the Nour North Sinai Concession, in the Eastern Egyptian Mediterranean, about 50 km North of the Sinai peninsula.
The UAE has eased a ban on the shipping of goods between it and Qatar, enforced under a political and economic boycott of Doha, according to port circular. An Abu Dhabi Ports circular cancelled previous directives that banned cargoes of Qatar origin from UAE waters and ports, and those of UAE origin from Qatar.
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