19.2 C
Tuesday, May 17, 2022

shipsgo - container tracking platform

shipsgo - container tracking platform

Home Most Visited Hapag-Lloyd, Eurogate and Contship Italia to develop and operate new box terminal...

Hapag-Lloyd, Eurogate and Contship Italia to develop and operate new box terminal in Egypt

Hapag-Lloyd, Eurogate and Contship Italia have formed a new joint venture to develop and operate a new container terminal in the port of Damietta in Egypt, after the final signing of the concession agreement which took place on 10 May in Cairo, Egypt.

The joint venture "Damietta Alliance Container Terminal S.A.E." consists of three core shareholders, Hapag-Lloyd Damietta GmbH - 39%, Eurogate Damietta GmbH - 29.5% and Contship Damietta Srl - 29.5% and two extra partners, Middle East Logistics & Consultants Group and Ship & C.R.E.W. Egypt S.A.E., will each hold 1%.

The new "Terminal 2" at the port of Damietta is expected to start operations by 2024 and will have a final total operational capacity of 3.3 million TEU.

"With the new terminal Hapag-Lloyd will significantly improve its transshipment operation in the East Mediterranean market as well as access to the local Egyptian trade," said Rolf Habben Jansen, CEO of Hapag-Lloyd.

The concession to operate the facility is granted to the joint venture for 30 years, according to Cecilia Eckelmann-Battistello, chairman of the board of Contship Italia, who noted "this gives us and our respective customers a long-term perspective in the port of Damietta."

The Egyptian Minister of Transport, Lieutenant-General Eng. Kamel Al-Wazir, commented, "This is a very encouraging, well planned partnership of international and Egyptian private sector in order to position Egypt as a global hub for logistics and trade. In this first phase, we will establish the port of Damietta as an integrated logistics hub for containers, which will then be followed by the establishment of logistic corridors reaching to different manufacturing areas in Egypt by railway network."

Antonis Karamalegkos
Managing Editor

Latest Posts

Port of Savannah achieves box volume records amid major expansion projects

The Port of Savannah in Georgia, US has handled 4.75 million TEU in the ten months of the fiscal year 2022 (July 2021 -...

Port of Barcelona presents its innovative aspirations through a new plan

Port of Barcelona has launched an innovation Plan in order to coordinate the promotion, under the same umbrella, of the various projects that change the...

Maersk introduces new Middle Corridor rail service

A.P. Moller - Maersk has decided to launch a new service linking China and Europe via Kazakhstan, Azerbaijan, Georgia, and Romania in about 40...

India to link 27 additional ports through rail network

India has now planned to connect 27 more ports through rail connection for faster transportation of cargoes. In this regard, Indian Railways will lay...

Euroseas announces US$85 million order of two new boxships

The Greek vessel owner Euroseas has chosen to exercise its option to proceed with the construction of two additional eco design fuel efficient container...