Back to the complete issue
Tuesday, 14 November 2017

Unified port fees implemented across Egypt’s ports on a trial basis

The Transport Ministry began implementing unified port fees nationwide last month on a trial basis, Transport Minister Hisham Arafat announced yesterday, Al Masry Al Youm reports. Arafat and Suez Canal Economic Zone head Mohab Mamish had agreed on the unification of fees back in June and follows a series of announced exits by major shipping firms who complained about Egypt’s port fees. The two had said the new fees would come into effect in October. Arafat and Mamish had also announced in August that the government will provide shipping companies with breaks on Suez Canal port fees as high as 50%. The breaks on fees will be proportionate to the volume of cargo shipped by the lines.

Separately, Prime Minister Sherif Ismail issued a decree yesterday appointing himself as the new head of the Supreme Ports Council, Al Borsa reports. The council was previously headed by the transport minister, who will now become its deputy head. The decree also stipulated the inclusion of maritime experts, nominated by the transport minister, in the council. Other members include the heads of the Suez Canal Authority and Suez Canal Economic Zone, as well as representatives from the defense, interior, investment, and tourism ministries.

In other port news, the Suez Canal Authority is working on developing the port of Al Arish in North Sinai, Mamish told Al Ahram. He added that an unnamed French company is constructing a container terminal in East Port Said.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.