Shipping
Despite this upward trend, current traffic levels still fall short of the 72 to 75 vessels per day that were typical before Houthi-related disruptions
The report also notes that more than 100 ships were attacked by Houthi forces since late 2023 and throughout the past year.
The ongoing conflict in Gaza, which began in late 2023 after Hamas’s attacks, has led to numerous assaults on ships passing through the Bab-el-Mandeb Strait by the Houthis
The meeting also included the updates of transport projects with African states, and that consist of roads, maritime and inland shipping lines, and railways.
That is among other measures aimed at bolstering trade exchange.
Egypt has launched a new shipping service linking the port of Dekheila in Alexandria with the ports of Novorossiysk and St. Petersburg in Russia to transport agricultural produce.
The multipurpose station is located at the Port of Alexandria.
Minister of Transport Kamel al-Wazir met Tuesday with the Italian ambassador to Egypt to discuss updates on the prospective RoRo freight.
Egyptian Ambassador to Athens Omar Amer met with Greek Minister of Maritime Affairs Christos Stylianides.
Also, almost 40 percent of the 12 older vessels will be overhauled in three years.
Shipping companies choosing to reroute will have to deal with additional costs and time to their journeys, causing oil prices and war risk insurance premiums to climb at a rapid rate.
Chairman of the Suez Canal Authority Admiral Osama Rabie stated Wednesday that the tugboats had successfully handled the technical issues experienced by two tankers during their navigation in the waterway.
The prime minister instructed holding a meeting comprising the different entities in order to agree on the sailing network, and the products to be exported.
It is the beginning to turn Egypt into a hub of green marine fuels.
The eastern breakwater project in Damietta Port has been completed as part of a plan to transform Egypt into a global center for trade and logistics.
The prime minister told press that the alliance will invest almost half a billion dollars in the first phase alone in spite of the economic circumstances the world is undergoing.
To achieve that goal, the ministry works on attracting more investors to Egypt's maritime transport market.
The signing was attended by Minister of Transport Kamel al-Wazir, who also witnessed the signing of another memorandum between the same parties.
One of the reasons is that Russia and Ukraine combined fulfill 30 percent of the global market's needs of wheat, cooking oil, and grains.
Rabie also clarified the reasons behind the cancellation of the 15-percent discount offered to liquefied gas tankers.
