Egypt's Transmar for container shipping achieves year of success despite global trade shocks

Transmar has been standing strong in the market for more than 40 years

  
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

Transmar, an international container shipping company, has announced it achieved a year of success in 2020 despite the economic repercussions of the novel coronavirus (COVID-19) pandemic.

The company, which is a wholly-owned subsidiary of Egyptian leading container shipping IACC Holdings, also said that it has been taking part in promoting intra-regional trade, between Egypt and its most strategic diplomatic and commercial partners, such as Saudi Arabia, the UAE, and Sudan.

Transmar has been standing strong in the market for more than 40 years, despite the turbulence witnessed by the shipping industry, particularly in 2020. This has, in large part, been due to the global health crisis.

Mohamed El Ahwal, Group CEO of IACC Holdings, commented on Transmar’s performance during the year, saying, “We are thankful to our people and partners, who have driven our success in the face of the uncertainty businesses the globe over had to deal with.”

Al Ahwal added, “I would also like to thank the Suez Canal Economic Authority (SCZone) for its constant interest in overcoming the obstacles facing companies operating in the region, including Transmar.”

Ahmed Al Ahwal

The company has had the slogan of “regional partner” for decades. In 2020, it served hundreds of customers who rely on inter-regional trade within their supply chains, achieving a trading volume of over 75,000 TEUs.

At the same time, Transmar witnessed a doubling of reefer container shipping exports, indicating a boom in agricultural trade between Egypt and neighbouring countries.

Ahmed Al Ahwal, Commercial Manager at IACC Holdings, said, “The pandemic shook global supply chains in 2020 in an unprecedented manner and sent receivers on a mission to ‘de-risk their supply chains’.”

He said, “Doing so means developing a deeper understanding of their dependence on their suppliers and the risks associated with that trade.”

He also noted that, in essence, “de-risking” for many meant that receivers are now looking to grow trade with their neighbours, where lead time is shorter and relatively protected from global shocks.

Transmar’s trusted reputation in the market has enabled continued operations during the year through a group of important and vital ports like Adabiya Port, Jeddah Port, and Port Sudan, serving as the regional partner to Egyptian exporters.

© 2021 Daily News Egypt. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Business