News

Egypt to increase its ports' operating hours to reduce delays in wheat shipments’ clearance

  • Comments   -   Thursday, 19 April 2018 - 16:06

(Ecofin Agency) - Egypt will increase the operating hours of its ports from 16 hours per day to 24 hours.  According to the transport minister Hesham Arafat, this measure is to cut the long delays of wheat shipments’ clearance.  

The official indicated that this new operation timetable should generate no additional fees to shippers. However, he did not specify how long the policy will last and when it will take effect.

Let’s note that although it is welcomed by many traders who had to pay demurrage fees for operations exceeding 16h, this measure is however insufficient to streamline the country’s supply system that is one of the most complex in the world.

According to a Cairo-based trader interviewed by Reuters, this approach from the government does not take into account the real problem which is the low storage capacity inside the ports.

USDA indicated that Egypt's complex mechanisms of wheat supply could generate additional costs of £1.4 billion in 2018.

Espoir Olodo 


APPP2018 480x110 ENG

Last weekend, Cradle Arc announced that its PL33/2005 and PL180/2008 prospecting permits...
Read more |  17 September 2018
Last Saturday, Egypt’s oil minister Tarek al-Moulla informed in a release that...
Read more |  17 September 2018
Blue Garnet Ventures, an investment company that invests in African companies specialized...
Read more |  17 September 2018
China would grant $11 billion to Angola, Macauhub indicated last week quoting Africa...
Read more |  17 September 2018
Tunisia plans to issue $1 billion Eurobonds at the beginning of October 2018...
Read more |  17 September 2018
Every payment above EGP100,000 (about $5,500) to government institutions should be done electronically...
Read more |  17 September 2018
This week, the TSXV-listed company Tango Mining, announced that it concluded an...
Read more |  14 September 2018
CI Capital, Egypt’s leading provider of investment banking, is planning to increase...
Read more |  14 September 2018

Copyright Agence Ecofin © 2018. All Rights Reserved.