logo
DP World Egypt receives LNG vessel, mega iron ore shipment

DP World Egypt receives LNG vessel, mega iron ore shipment

Zawya4 hours ago

DP World Egypt announced on Wednesday that it received a Floating Storage Regasification Unit (FSRU), the country's largest iron ore shipment and the Aroya cruise ship this month at its Ain Sokhna Port, showcasing its ability to manage diverse vessel types while advancing Egypt's trade, energy and tourism goals.
Energos Eskimo, a Floating Storage Regasification Unit (FSRU) operated by New Fortress Energy (NFE), docked at the Sokhna facility for a series of specialised technical upgrades, including modifications to its high-pressure gas manifold in preparation for its forthcoming call at SUMED Port, where it will begin injecting natural gas into Egypt's national grid.
The Port also welcomed the Berge Kuju, a 300-metre dry bulk vessel arriving from Brazil with 180,008 tonnes of iron ore destined for Ezz Steel, marking the largest iron ore shipment ever received at an Egyptian port. The delivery forms part of a long-term strategic agreement and supports more than 6 million tonnes of annual iron ore throughput at Sokhna.
Sokhna Port also welcomed the Aroya cruise ship with 2,300 passengers, on its second scheduled visit under an annual agreement with Cruise Saudi.
'DP World Egypt continues to prove its ability to manage diverse vessel types with efficiency and precision, from LNG carriers and dry bulk ships to cruise liners," said Mohammad Shihab, Chief Executive Officer, DP World Egypt
"Sokhna Port's strategic location and advanced infrastructure make it a vital connector between Egypt, East and North Africa, Asia and beyond, supporting both trade flows and the country's economic development goals.'
DP World Sokhna is currently implementing the $80 million Sokhna Logistics Park project.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Egypt pens $200mln deal with China's Sunrev Solar to build solar energy complex in Sokhna
Egypt pens $200mln deal with China's Sunrev Solar to build solar energy complex in Sokhna

Zawya

time4 hours ago

  • Zawya

Egypt pens $200mln deal with China's Sunrev Solar to build solar energy complex in Sokhna

Prime Minister Mostafa Madbouly witnessed the signing of a contract for the establishment of an integrated industrial complex for solar energy supplies in the Ain Sokhna industrial zone, within the Suez Canal Economic Zone (SCZone), as per a statement. The project will be developed by Chinese company Sunrev Solar with total investments of $200 million, and is among the largest industrial investments in renewable energy components within the zone. Spanning 200,000 square meters, the project will be executed in two phases. The first phase involves the construction of integrated factories with a production capacity of 2 gigawatts of solar cells and 2 gigawatts of solar modules, with investments of $90 million. The second phase, valued at $110 million, will focus on localizing the production of key raw materials such as silicon ingots and wafers, completing the full solar energy supply chain from raw material to finished product. Madbouly emphasized the strategic importance of the SCZone in attracting investments across various sectors, particularly in renewable energy. He noted ongoing efforts to localize manufacturing of new and renewable energy components, backed by strong government support and incentives. Chairman of the SCZone Waleid Gamal El-Dien stated that the project is expected to generate more than 1,800 direct jobs across both phases. It will contribute significantly to Egypt's export capacity, with anticipated annual revenues of up to $300 million. He added that the foundation stone will be laid on June 19th, with the first phase scheduled to begin operations in the first half (H1) of 2026. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (

DP World Egypt receives LNG vessel, mega iron ore shipment
DP World Egypt receives LNG vessel, mega iron ore shipment

Zawya

time4 hours ago

  • Zawya

DP World Egypt receives LNG vessel, mega iron ore shipment

DP World Egypt announced on Wednesday that it received a Floating Storage Regasification Unit (FSRU), the country's largest iron ore shipment and the Aroya cruise ship this month at its Ain Sokhna Port, showcasing its ability to manage diverse vessel types while advancing Egypt's trade, energy and tourism goals. Energos Eskimo, a Floating Storage Regasification Unit (FSRU) operated by New Fortress Energy (NFE), docked at the Sokhna facility for a series of specialised technical upgrades, including modifications to its high-pressure gas manifold in preparation for its forthcoming call at SUMED Port, where it will begin injecting natural gas into Egypt's national grid. The Port also welcomed the Berge Kuju, a 300-metre dry bulk vessel arriving from Brazil with 180,008 tonnes of iron ore destined for Ezz Steel, marking the largest iron ore shipment ever received at an Egyptian port. The delivery forms part of a long-term strategic agreement and supports more than 6 million tonnes of annual iron ore throughput at Sokhna. Sokhna Port also welcomed the Aroya cruise ship with 2,300 passengers, on its second scheduled visit under an annual agreement with Cruise Saudi. 'DP World Egypt continues to prove its ability to manage diverse vessel types with efficiency and precision, from LNG carriers and dry bulk ships to cruise liners," said Mohammad Shihab, Chief Executive Officer, DP World Egypt "Sokhna Port's strategic location and advanced infrastructure make it a vital connector between Egypt, East and North Africa, Asia and beyond, supporting both trade flows and the country's economic development goals.' DP World Sokhna is currently implementing the $80 million Sokhna Logistics Park project.

Sight of Iranian missiles streaking across night sky reminds Egypt of perils ahead
Sight of Iranian missiles streaking across night sky reminds Egypt of perils ahead

The National

time5 hours ago

  • The National

Sight of Iranian missiles streaking across night sky reminds Egypt of perils ahead

Iranian missiles can be seen with the naked eye in Egypt as they streak across the night sky like shooting stars while travelling towards Israel. Unleashed hundreds of kilometres away in Iran and flying at high altitude, the missiles do not look particularly menacing. Yet for Egypt they serve as a potent reminder of the potential perils ahead as the Iran-Israel war rages on amid suggestions of US involvement on Israel's side. Egypt is deeply alarmed by the conflict, knowing it is only a matter of time before the fallout hits its fragile economy so hard that it might need a global aid package similar to last year's $50 billion bailout merely to stay afloat. Perhaps more disconcerting for President Abdel Fattah El Sisi's government is that a deeper economic crisis could trigger unrest in the nation of 106 million, which has struggled in the past decade with double-digit inflation, additional taxes and a rapidly devaluing currency. The war, which began on June 13, has already caused Egypt 's currency to lose ground to the US dollar. The stock market also took a beating, while on the nation's lucrative debt market 'hot money' was leaving in a hurry, putting pressure on limited foreign currency reserves. Underscoring the depth of the alarm, some Egyptians, mostly those with deep pockets, are hoarding food and basic medicine because they fear a possible disruption of global supply chains if the conflict becomes broader. But not all are on board with this coping tactic, or can afford it, in a country where the majority are leading a hand-to-mouth existence, or surviving from pay cheque to pay cheque at best. 'I haven't stocked up on anything, this is nonsense,' said Ibtisam Ahmed, a 73-year-old retiree and mother of three from Cairo. "If there are shortages, then we will all suffer together as one people. What I and many others fear is not the shortage of food. We fear power cuts that will leave us living in darkness and we fear lack of security on the streets.' Prime Minister Mostafa Madbouly has advised Egyptians to curb electricity consumption. Seeking to head off a popular backlash at a critical time, his government is rushing to find alternative imports of fuel supplies to avoid power cuts in the summer and has been issuing reassuring messages on the nation's reserves of essential food items. Addressing parliament on Tuesday, Planning Minister Rania Al Mashat made clear the government was not taking any chances. Officials, she explained, were closely monitoring the situation in the region and were prepared to revise the indicators of Egypt's 2025-2026 budget that will come into effect on July 1. 'It could prove necessary that we revise indicators in case current regional developments persist or worsen,' she told legislators, referring to the Israel-Iran war. Mr Madbouly has set up a 'crisis committee' to monitor the fallout from the war, she added. Michael Hanna, director of the US Programme at the International Crisis Group in New York, said: 'Egypt is very vulnerable and there is a lot at stake now. It does not have much of a role that impacts on what's happening and had never been a player in years of animosity between Israel and Iran, but it stands to lose a lot from this conflict. This war could go on for long if Iran does not run out of missiles." The potentially damaging fallout from the fighting comes as Egypt is struggling to shield itself from the ripples of its crisis-ridden neighbours: Sudan's civil war, Libya's 14 years of civil strife and the 20-month-old Israeli war in Gaza. The challenges have prompted pro-government talk show hosts and loyal social media accounts to send out messages of support to Mr El Sisi, urging Egyptians to rally behind his leadership and place their trust in the military's ability to defend the nation. Their seemingly state-orchestrated narrative is clearly on Iran's side, a reflection of Cairo's tense relations with Israel and, in contrast, its rapidly improving ties with Iran. But the government's handling of the potential fallout from the war has not been met with universal approval in Egypt. In thinly veiled criticism, one of Egypt's most-celebrated politicians, former foreign minister and Arab League chief Amr Moussa, suggested the rarely convened National Security Council led by Mr El Sisi must meet to shoulder its responsibility of "dealing with the threats facing the nation's security and take the necessary steps to contain them". Cairo's jitters have been on display in the past week, when authorities appeared to go to great lengths to prevent foreign pro-Palestinian activists and their local peers from staging a symbolic march to the Gaza border in support of beleaguered Palestinians. The government said the activists would need permission to demonstrate, a process that has never been fruitful since Egypt effectively banned street protests in 2013. Scores of activists were detained and deported on arrival at Cairo airport. Many who slipped through security at the airport were detained and deported after police raids at Cairo hotels and an area outside the Suez Canal city of Ismailia, where scores had gathered. Security sources said the crackdown was designed chiefly to stop Egypt's pro-Palestinian activists from joining the march and turning it into an anti-government rally.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store