Suez Canal Container Company sees 14% rise in freight movement in 2021

PHOTO

CAIRO: The Suez Canal Container Company expects to handle half a million more crates this year than in 2020, the firm’s CEO has said.

Speaking to Alarabiya, Steven Yoogalingam said he expected his business to have processed 4 million containers by the end of 2021 — a 14 percent rise on the previous 12 months.

He said $1 billion had been invested to develop the container terminal in east Port Said, adding that the company's performance was coinciding with the improvement of the Egyptian economy.

Yoogalingam said the company was working hard to operate efficiently so trade would not stop as the global economy recovered from the consequences of the pandemic.

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.