Shipping Arabia’s Post

#Shipping Market News🌍 🔔 #EU to Investigate French Government Subsidies to #CMA CGM's La Méridionale ✅ The European Commission has decided to investigate subsidies provided by the #French government to the La Méridionale shipping company, which was taken over by the French container shipping giant, CMA CGM, in May last year. ✅ According to Reuters, the European Commission aims to clarify whether the state subsidies to La Méridionale comply with EU state aid rules. The European Commission will also investigate the support provided by the French government to the Corsica Linea shipping company. Media reports suggest that the French government has decided to provide nearly €854 million in subsidies to these two shipping companies between 2023 and 2030. ✅ La Méridionale operates regular services to Corsica with four vessels, connecting Marseille, Porto Vecchio, and Ajaccio, as well as a route from Marseille to Morocco.

#Shipping Market News🌍 🔔 #EU to Investigate French Government Subsidies to #CMA CGM's La Méridionale ✅ The European Commission has decided to investigate subsidies provided by the #French government to the La Méridionale shipping company, which was taken over by the French container shipping giant, CMA CGM, in May last year. ✅ According to Reuters, the European Commission aims to clarify whether the state subsidies to La Méridionale comply with EU state aid rules. The European Commission will also investigate the support provided by the French government to the Corsica Linea shipping company. Media reports suggest that the French government has decided to provide nearly €854 million in subsidies to these two shipping companies between 2023 and 2030. ✅ La Méridionale operates regular services to Corsica with four vessels, connecting Marseille, Porto Vecchio, and Ajaccio, as well as a route from Marseille to Morocco.

Egypt and Italy Advance Plans for New Fast RORO Line to Boost Agricultural Trade Shipping Arabia, May 22, 2024 — In a significant move to enhance bilateral trade, the Egyptian Minister of Transport, Lieutenant General Engineer Kamel El-Wazir, met with Michele Quaroni, the Italian Ambassador to Cairo, to discuss the upcoming launch of a fast Roll-On/Roll-Off (RORO) service. This new line will primarily transport perishable agricultural products between Egypt and Italy, starting with the first voyage planned from Damietta to Trieste. The discussion highlighted the strategic importance of this initiative, aimed at bolstering Egypt’s foreign trade, with Italy being a primary recipient of Egyptian exports, especially fresh agricultural produce. This service is expected not only to facilitate faster trade between the two nations but also to serve as a vital conduit for distributing these goods throughout other European countries. Minister El-Wazir emphasized that the establishment of this fast RORO line aligns with the Egyptian government's broader strategy to maximize trade exchange and increase exports, under the guidance of President Abdel Fattah El-Sisi. The service is poised to enhance the role of Egyptian ports as major gateways not only towards Italy but also across Africa and the Gulf countries, benefiting from recent significant enhancements to Egypt's port, road, and railway infrastructures. The meeting also covered various aspects of ongoing cooperation in transportation sectors between the two countries, including the management of the Tahiya Misr 1 container terminal at Damietta Port, collaborations on implementing a unified transport card and an Intelligent Transportation System (ITS) in Egypt, and partnerships in railway technology enhancements. Ambassador Quaroni expressed gratitude for the robust cooperation and the mutual commitment to this project, highlighting the Italian government’s interest in the fast RORO line as a crucial development for reducing transit times for Egyptian goods to Europe. The Port of Trieste, where the line will terminate, is considered a strategic entry point for Egyptian products into Europe, further underscoring the line's potential to stimulate and increase Italian investments in Egypt’s promising investment climate. This maritime initiative is a testament to the strong diplomatic and economic ties between Egypt and Italy, and it promises to significantly enhance the speed and efficiency of trade, particularly in the agricultural sector, between the two nations. Source: Ministry of Transportation - Egypt #Egypt #Italy #RORO #Maritime #Transportation #Damietta #GlobalTrade

Red Sea Ports Authority Announces $300 Million Investment in Berenice Port Development Shipping Arabia, May 4, 2024 - In a significant development for Egypt’s maritime sector, sources at the Red Sea Ports Authority have revealed plans for a $300 million investment to develop Berenice Port. This initiative is set to elevate Berenice Port to a global status, enhancing its logistics capabilities and positioning it as a pivotal regional hub for transit trade and logistics. This development is part of Egypt’s broader strategy to transform into a regional center for commerce and tourism, tapping into the strategic geographical location of Southern Egypt. The investment, driven by the ambitious management and development agreement overseen by General Kamel El-Wazir, Minister of Transport, aims to boost the export and import movements between Southern Egypt and African countries. This development is expected to significantly utilize the potential of the Berenice area for both commercial and tourism purposes, supported by new road networks that span 1,080 kilometers along the Red Sea coast. These roads include major routes like the 330-kilometer Berenice-Aswan route, which connects the Red Sea coast to the Nile Valley and extends to Sudan. This infrastructure is anticipated to facilitate easier and more efficient transport connections between the port and major economic zones in the region. The investment will be channeled through the Berenice Regional Ports Activities Company, a part of the Kuwaiti Ghanim Group, which recently signed an agreement with the Berenice Port Company. This company, affiliated with the Red Sea Ports Authority, ensures the port remains under 100% Egyptian ownership with significant stakes held by various national authorities. The planned development includes the construction of new berths, enhancement of existing ones, and the installation of wave barriers. Additionally, there are plans to improve the superstructure and hinterland covering 800 square kilometers, focusing on storage and handling operations. Reham Fuad Al-Ghanim, Chairman of the Ghanim Group, highlighted the project’s scope, stating that the development will also support the transport of pilgrims and cargo, aligning with global maritime standards. The design and studies are underway to meet these international benchmarks, marking a major step forward in Egypt’s maritime ambitions. This investment not only underscores the economic growth potential of the region but also signifies the collaborative efforts between the Egyptian government and international partners to advance the maritime transport sector and enhance the country's global trade capabilities. Source: Al Masri Al Yawm #Egypt #Maritime #Development #Transport

Colombo Plan and Ports Authority sign MoU to develop port operations The Colombo Plan, with funding from the U.S. Embassy, launched a three-year program to enhance the technical expertise of Sri Lanka Ports Authority staff and advance "smart" port operations at the Port of Colombo, a statement from the U.S. embassy said. The Colombo Plan and Sri Lanka Ports Authority signed a letter of intent at the launch and a memorandum of understanding will be extended in detail that contributes to the development and sustainability of maritime and port operations in Sri Lanka by introducing modern port systems, new technologies, and international best practices. U.S. funding supports Sri Lanka's ports initiative to boost productivity and competitiveness, positioning its ports as crucial regional hubs in South Asia. At the launch, U.S. Ambassador to Sri Lanka Julie Chung reaffirmed U.S. commitment to supporting the rapidly growing ports industry of Sri Lanka, noting: "In partnership with the Colombo Plan, the United States aims to enhance the knowledge, technical skills, and expertise of Sri Lanka Port Authority's (SLPA) professionals through training on current trends, international best practices, and technological advancements in ports management. The United States is committed to supporting Sri Lanka's ports sector to meet the growing demands of the global economy, fostering economic prosperity for all Sri Lankans." Minister of Ports, Shipping, and Aviation, Nimal Siripala de Silva has expressed gratitude for this supportive gesture and has tabled the project to the cabinet of ministers as well. The Colombo Plan capacity building program encompasses diverse training and development initiatives, such as visits to U.S. ports, technical training exchanges, conferences, and workshops conducted by both local and international experts. This collaborative effort aims to enhance the capabilities of ports, improving efficiencies and expanding the delivery of value-added services. #PortOperations #FinanceInsights #FinanceNews

🚢✨ Navigating Growth in Southern Africa's Maritime Landscape: The Rise of the Port of Maputo 🌐🌊 Thrilled to share insights on the evolving dynamics of port competition in my latest blog post! 📰🔗 As reported, the Port of Maputo is making waves with record activity levels, emerging as a formidable competitor amid South African port capacity challenges. 🇲🇿⚓️🇿🇦 Key Takeaways: ✅ Strategic Location and Connectivity 🌏 ✅ Investment in Infrastructure 💼🏗️ ✅ Efficient Customs Processes 🚀 ✅ Diversification of Cargo Handling 📦 Explore the full article to understand how the Port of Maputo is shaping the future of maritime trade in the region https://lnkd.in/gvXKYxj6 Challenges and Opportunities: ✅ Infrastructure Upkeep and Expansion 🔄 ✅ Collaboration with Regional Partners 🤝 ✅ Environmental and Sustainability Considerations 🌱 ✅ Technology Integration for Future-Proofing 🚀🔍 Join the conversation on the dynamic landscape of Southern Africa's ports! How can we navigate growth while embracing sustainability? Share your thoughts and let's chart the course together. ⚓️🗺️ #MaritimeTrade #PortCompetition #SouthernAfricaPorts #MaputoPort #Logistics #Sustainability #GlobalTrade 🌊🚀

The agreement, and the related implementing memorandum of understanding, establishes a maritime ferry line for the transport of goods via trailers and semi-trailers. The line will make the exchange of goods by ship between the two countries faster and faster, creating a real "preferential lane", safe and fast. #transportation #maritime #italy #egypt

Damietta Port Prepares for Launch of RoRo Line Between Egypt and Italy Shipping Arabia, September 4, 2024 — In anticipation of the imminent launch of the RoRo maritime transport line between Damietta Port and the Italian port of Trieste, Damietta Port Authority has conducted trials to streamline truck movements. This initiative follows the protocol signed last year during the TRANS MEA Intelligent Transport Exhibition and Conference, aimed at facilitating the sustainable operation of the RoRo cargo line using dry and refrigerated trucks. Rear Admiral Tarek Adly Abdullah, Chairman of the Damietta Port Authority, oversaw virtual trials designed to ensure the smooth flow of truck traffic on this critical maritime route. These trials included the deployment of the latest mobile inspection device (M-60), which utilizes advanced X-ray technology. This high-precision device, specifically designated for Damietta Port, offers enhanced flexibility and rapid movement, ensuring efficient scanning of truck cargo. Its use is expected to significantly improve the efficiency, consistency, and speed of the entire logistical process—from the docking of RoRo ships at the berth to the timely exit of trucks from the port, all in close coordination with relevant authorities. The simulation was attended by Rear Admiral Ahmed Hamdy, Deputy Chairman of the Damietta Port Authority for Operations, along with senior officials from the authority, representatives from the Egyptian Customs Authority, and delegates from various related entities. Rear Admiral Tarek Adly Abdullah confirmed the full readiness of all port facilities, particularly the RoRo berth, to accommodate ships for the forthcoming maritime transport line. This preparation aligns with the directives of Engineer Kamel Al-Wazir, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport. The project is of significant national importance, as it will serve as a vital gateway for transporting Egyptian goods, especially agricultural products, to Italy and other European countries. The successful operation of this RoRo line is expected to boost Egyptian exports, strengthening trade links and expanding market access for Egyptian products across Europe and beyond. Source: Damietta Port Authority #Damietta #Egypt #Maritime #RORO #Trieste

🚢🇱🇰 The Sri Lanka Ports Authority (#SLPA) is charting a path forward to improve Sri Lanka’s maritime ambitions, with plans in place to nearly double the capacity at the Port of Colombo from around 8 million Twenty-foot Equivalent Units (#TEUs) to 15 million in the next few years. The #PortofColombo was recently recognised as the best-performing port globally for the first quarter of 2024 by Alphaliner. As the SLPA celebrates its 45th anniversary, The Sunday Morning spoke to its Chairman Keith Bernard regarding the journey thus far and what is in store for Sri Lanka’s port sector. ❗️Plans being drawn to make Trinco an industrial port; KKS to be jointly developed with India ❗️A national maritime policy needs to be compiled and approved ❗️New Indian deepwater ports may draw more int’l traffic, be more complimentary to SL ports than being competitive ❗️SL shipping industry should be more open minded; legal framework reviewed to allow shipping lines, salvors to establish in SL #IOR #Ports #Logistics #connectivity #SriLanka #Shipping 👇 https://lnkd.in/gkpnN75s

Port Said Chamber of Shipping Initiates New Executive Committee Shipping Arabia, July 24, 2024 — In a significant organizational move, the Port Said Chamber of Shipping convened its inaugural meeting under the stewardship of Major General Kamel El-Wazir, Minister of Transport. The assembly ratified the formation of a new executive committee following a recent uncontested election, aligning with the Chamber’s strategic vision to amplify its operational efficacy. The Board of Directors, convening at the Chamber's headquarters located in the East District of Port Said, includes prominent figures such as Mohamed Abdu Sadiq El-Lamaei as Chairman, Khaled Abdelmalek Ismail as Vice Chairman, and other distinguished members contributing diverse expertise to the Chamber’s mandate. Vice Chairman Adel El-Lamaei inaugurated the session by welcoming the newly appointed board members, reiterating the Chamber's commitment to bolstering the economic throughput of Egyptian ports. He emphasized the crucial role of the Chamber in augmenting operational coordination across Port Said’s maritime facilities, including West Port Said, East Port Said, and Arish ports. The newly formed executive committee is set to embark on a path of transformative strategies aimed at advancing port operations and enhancing collaborative efforts among the maritime community. This initiative not only signifies a progressive step towards organizational efficiency but also underscores Egypt’s commitment to fostering a competitive edge within the global maritime logistics landscape. As the Chamber of Shipping in Port Said continues to evolve, its impact on regional economic development and international shipping dynamics is expected to grow, marking a new chapter of leadership and innovation in Egypt’s maritime sector. Source: Port Said Chamber of Shipping #PortSaid #Egypt #Maritime #Shipping #Logistics