Egypt’s Misr Insurance vying to cover Aida IV ship – sources

Egypt’s state-owned Misr Insurance has offered its technical and financial offers to cover Aida IV ship, announced official sources on Saturday.

Egyptian Authority for Maritime Safety (EAMS) earlier launched an insurance policy tender to cover risks that may occur to Aida IV ship.

The one-year term insurance policy is with a total sum insured up to 50 million Egyptian pounds ($3.1 million), the sources 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 said.

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.

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.