Maersk Signs One-Of-A-Kind Deal With Egypt To Promote Green Ship Recycling

Shipping Giant Maersk has signed an MOU with the Holding Company for Maritime and Land Transport, an Egyptian state-owned enterprise under the Ministry of Transport, to cooperate with green ship recycling in the Middle Eastern country. This is in line with international standards and part of the government’s efforts to be less dependent on imported scrap metal.

The agreement strives to create a sustainable environment and support the nation’s steel and scrap industry.

Deputy PM for Industrial Development & Ministry of Industry and Transport Kamel El-Wazir said that the project, in partnership with the Industrial Development Group, is one of its kind for Egypt regarding ship scrapping at Damietta Port.

The planned demolition yard will be at the Damietta Port, west of the Port Said on the Mediterranean and will comply with the Hong Kong Convention on improved ship recycling.

It will span around 155,000 square meters and will handle ships with a length of up to 230 meters. Other Egyptian ship recycling sites are also under discussion.

Maersk has a history of aiding countries in developing greener ship recycling yards. While signing the agreement, the two parties also talked about enhancing cooperation in maritime transport, especially in container terminals.

El-Wazir also talked about the great investment opportunities in the country, such as at the Max and Geroub ports on the Mediterranean and the Berenice and Sokhna port facilities on the Red Sea, highlighting Egypt’s booming investment landscape.

References: Zawya, Container News

Source: Maritime Shipping News