Maersk signs deal to assess ship recycling opportunities in Egypt

Danish container shipping giant Maersk has signed a Memorandum of Understanding (MoU) with the Holding Company for Maritime and Land Transport, an Egyptian state-owned entity under the Ministry of Transport. The agreement aims to bolster cooperation in responsible ship recycling (RSR) in accordance with international standards, fostering a sustainable environment while supporting the steel and scrap industries.

Egypt’s Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel El-Wazir, described the project as the country’s first of its kind for ship scrapping at Damietta Port, in partnership with the Industrial Development Group. The initiative aligns with global regulations such as the Hong Kong Convention and the Basel Convention, underscoring Egypt’s commitment to environmental protection and resource efficiency in maritime transport.

It is important to note that the Holding Company for Maritime and Land Transport has already signed an agreement with the Industrial Development Group, another Egyptian state-owned entity, to establish a company specializing in ship scrapping, construction, and repairs.

During the MoU signing ceremony, discussions were held on expanding cooperation between the Egyptian government and Maersk in other maritime transport sectors, particularly container terminal operations. El-Wazir highlighted attractive investment opportunities at Gergoub and Max ports on the Mediterranean, as well as Sokhna and Berenice ports on the Red Sea, emphasizing Egypt’s favorable investment climate for global partners.

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