Egypt's Canal Shipping Agencies in talks to operate new shipping line

The Egyptian company also confirmed that it is the sole agent of Arab Bridge Maritime which owns the shipping line between Sharm El-Sheikh and Hurghada

  
Image used for illustrative purpose. Cranes are seen near the Suez Canal in Port Said, Egypt July 29, 2018.

Image used for illustrative purpose. Cranes are seen near the Suez Canal in Port Said, Egypt July 29, 2018.

REUTERS/Amr Abdallah Dalsh

Cairo – Canal Shipping Agencies said it aims to operate a new shipping line between Safaga and Duba.

Canal Shipping is currently in negotiations with the ship-owning company over a potential deal, according to a statement to the Egyptian Exchange (EGX) on Sunday.

The Egyptian company also confirmed that it is the sole agent of Arab Bridge Maritime which owns the shipping line between Sharm El-Sheikh and Hurghada, which represents 3% only of total revenues.

It is worth mentioning that during FY18/19, the company logged a net profit of EGP 225.54 million, compared to EGP 271.16 million a year earlier.

Source: Mubasher

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