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.

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