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17 May 2022 The on-line newspaper devoted to the world of transports 04:05 GMT+2

May 10, 2022

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Original news
New container terminal of Hapag-Lloyd, Eurogate and Contship in the port of Damietta

It will become operational in 2024 and will be able to move 3.3 million teu

The German shipping company Hapag-Lloyd and the companies terminaliste Eurogate and Contship Italia of the German group Eurokai have set up a joint venture that will build and manage a container terminal in the Egyptian port of Damietta through a concession contract that was signed today at Cairo with the Egyptian Minister of Transport, General Kamel AlWazir.

The new company will be owned by the three partners respectively through Hapag-Lloyd Damietta who will hold 39% of the capital of the joint venture, Eurogate Damietta with the 29.5% and Contship Damietta with 29.5%, while the Egyptian Middle East Logistics & Consultant (MELC) and Ship & C.R.E.W they will each hold 1% of the capital.

It is expected that the new terminal, called Terminal 2, will become operational by 2024 and, once completed, will have an annual traffic capacity of 3.3 million of teu. Hapag-Lloyd has specified that it will use the landing as its own transhipment hub in the Eastern Mediterranean.

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