ShippingWatch

APM Terminals challenged by Egyptian unrest

Since the beginning of January, APM Terminals in Port Said has felt the Egyptian unrest through delays and shutdowns, Managing Director of Suez Canal Container Terminal, Klaus Holm Laursen, tells ShippingWatch.

The uncertain political and economic development in Egypt these years is a serious challenge for APM Terminals which owns 55 percent of Suez Canal Container Terminal in Port Said and operates the container terminal. 25 percent of the owners are Egyptian investors of which Suez Cana Authorities is the largest.

In recent months, since the beginning of January, APM Terminals in Port Said – located on the Eastern berth of the canal which is one of the biggest hubs in global shipping, has experienced delays, shutdowns or drops in productivity as a result of the general unrest in the country. Earlier this month, a judge sustained 21 death sentences and added 5 life time sentences following the unrest at a football match last year during which 74 people were killed.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

SDK Freja anticipates steep earnings drop following record year

Logistics company SDK Freja, which delivered record financials with great advancement on top and bottom lines, takes a more gloomy view of the current fiscal year due to several ”external factors.” However, the growth target remains the same, CEO tells ShippingWatch.

LNG carriers concerned about increasing ship prices

The price on new LNG vessels has soared vigorously, and for Flex LNG this has meant a withdrawal from the market for new ships. Such was the statement by Flex LNG’s chief exec at Marine Money in New York, where he also announced new long-term charter agreements.

Maersk ships delayed up to three weeks on US east coast

Bottlenecks at major container ports on the US east coast have entailed that Maersk vessels are affected by delays of up to three weeks. It’s a combination of congestion, many ships, and a lack of container space, Maersk says.

Further reading

Related articles

Latest news

See all jobs