Egyptian Authority for Maritime Safety (EAMS) has launched an insurance policy tender to cover risks that may occur to Aida IV ship, announced sources on Sunday.
Aida IV was donated by Japan to the Egyptian government represented by Ministry of Transport and the Egyptian Authority for Maritime Safety. Aida IV is a supply ship owned by Egyptian government. Its keel was laid in 1991 and she start service in 1992 for supplying lighthouse in the Red Sea and training cadet.
The one-year term insurance policy is with a total sum insured up to 50 million Egyptian pounds ($3.1 million), official sources in the Egyptian insurance sector further told Amwal Al Ghad.
The policy will see coverage of Aida IV’s machines and equipment against risks related to fire, explosion, theft, piracy, and collision, they added.
Egyptian Authority for Maritime Safety, ex-Ports and Lighthouses Administration (PLA), is one of the first governmental facilities as it dates back to 1830 when an assembly was appointed to supervise the preparation to receive large vessels in the port of Alexandria.