According to the Transportation Minister Hesham Arafat, all Egyptian ports are running for 24 hours a day, since April 16.
Alexandria port, Egypt.
The Egyptian government recently decided to extend ports opening time as the country is tackling a sensitive-time issue: to cut long waiting times for shipments.
According to the ministry of Transportation, the best solution for ports would be a 24 hours service. Since April 16, that option became a decision allowing them to keep running all day and night, instead of the regular 16 hours.
Egypt which is the world’s largest wheat importer receives a significant number grain traders’ ships every day. In the case where they fail to unload their ships on time, they must pay demurrage fees.
Map of seaports and terminal containers in Egypt.
Traders say the high demurrage fees have resulted from congestion at Egypt’s ports and due to the long inspection process stalling their vessels, prompting them to add risk premiums of up to 500 000 dollars on individual cargoes.
According to the Maritime Transport Sector department, Egypt has 19 seaports and terminal containers.
Discover out our latest videos about the economic news in Egypt:
Réagissez à cet article