Shipping & Logistics News
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SCZONE's revenues increase to LE 4.3B in H1 2023-24
This represents an increase of approximately 70 percent compared to the same period in 2022, where the revenue was LE 2.6 billion.
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Conflict in Red Sea will weigh on Egypt’s elevated financing needs; inflation to soar
The Red Sea crisis will further elevate public sector gross financing needs for most emerging markets and middle-income countries in MENA.
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The Know How: Localizing the Locomotive Industry in Egypt
The government seeks to localize the locomotive industry in partnership with the private sector to curb import in the future.
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Egyptian AI-driven logistics startup Roboost gets $3 million to diversify its services
Its self-learning AI system improves client operations by reducing human intervention and automating home delivery fleets.
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Shipping Lines Request Incentives for Crossing Suez Canal
Rabie stressed the importance of the meeting, which serves as an extended and continuous platform for dialogue with all of the canal’s partners.
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Egypt's Suez canal authority head: revenue down 44% in Jan 2024
Egypt's Suez canal authority head Osama Rabie told Asharq TV on Thursday the canal's revenue fell by 44% in January 2024 compared to last year.
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Egypt's SCZone inks $250 mln agreements for five projects
Egypt's Suez Canal Economic Zone (SCZone) signed five framework agreements to launch projects worth approximately $250 million in total.
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Egypt lost $150 mln due to Red Sea disruptions
Egypt has lost about $150 million in Suez Canal revenue due to ongoing Red Sea disruptions, according to Bloomberg’s Chief Emerging Markets Economist
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Suez Canal revenues drop by 40% over Red Sea incidents: Official
The number of ships passing through the Suez Canal decreased by 30 percent compared to the same period last year, owing to tensions at the Red Sea.
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Arab Bank, Orascom inks EGP 4.2 bln Cairo Metro construction deal
The Arab Bank has signed an EGP 4.2 billion (nearly $136 million) agreement with mega company Orascom Construction to implement the fourth phase.
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Bosta, an Egyptian logistics startup, secures new funding to continue its expansion plans
Bosta's mobile or web application allows users to send and receive packages while communicating and monitoring deliveries in real-time.
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Egypt plans to construct logistics zone in Safaga Port
The Egyptian government is gearing up for the construction of a logistics zone with an investment of $50 million.
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China-built container terminal starts operation in Egypt's Alexandria
Its first phase was delivered in October 2023, said the head of CHEC Egypt Duan Kun, adding the construction is now in the second phase.
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Egypt's Qalaa Holdings to establish 2 railway lines in Eastern Africa
The meeting tackled establishing a logistic zone in Rwanda to store Egyptian exports.
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Egypt's PM Discusses with Maersk Officials Latest Developments in Red Sea
This came during a discussion between the prime minister Wednesday, via video conference, with officials of shipping Giant “Maersk" group.
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Egypt’s high-speed electric train connects airports, ports and urban areas: Al-Wazir
The high-speed electric train network, which will cover all parts of the country, will serve new and existing urban, touristic and industrial areas.
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Egytrans and Links Investment Agree to Establish a Joint Logistics and Transport Company in Lucrative Saudi Arabian Mark
The new company will be poised to enter the transport and logistics industry, offering comprehensive services.
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Swvl to “carefully expand” in Saudi Arabia in 2024
Swvl has reportedly cut nearly one-third of its workforce in 2022, to achieve profitability and lower operating costs.
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Infograph: Egypt’s Suez Canal revenues jump 19.4% in Q3 of 2023
Egypt’s Suez Canal revenues jumped by around 19.4 percent to $2.4 billion in the third quarter of 2023 (July-September) compared to $2 billion in 2022
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Abu Dhabi Ports initials $3 mln agreement to develop, operate three Egyptian cruise terminals
The Abu Dhabi Ports Group initialed on Thursday a 15-year concession agreement, worth $3 million, with the Egyptian Red Sea Ports Authority (RSPA).