Egypt’s El-Wazir stresses fleet expansion to 36 ships by ’30

Egypt’s Minister of Industry and Transport Kamel El-Wazir stressed the need to expand the ministry’s affiliated fleet to 36 ships by 2030, with a combined capacity to transport 25 million tons of goods annually, as per a Cabinet statement.

The target covers several companies in the maritime industry, including National Navigation Company, Arab Bridge Maritime, Alkahera Company for Ferries and Maritime Transport, and Egyptian Tanker Company. It is part of a strategy to support the transport of strategic goods and passenger services.

National Navigation Company posted a strong performance in 2024 with net profits of $23 million, up from $21.7 million in 2023, supported by a 41.4 per cent jump in commercial revenues. It also raised the share of private sector cargo in its operations to 38 per cent, from 19 per cent in 2019.

The company is renewing its fleet, with two Kamsarmax dry bulk vessels on order for 2026 and two more expected in 2028, totalling 54 per cent of its owned fleet upgraded, as per the statement.

Attribution: Amwal Al Ghad English
Subediting: M. S. Salama