Egypt’s KCFMT, Saudi Arabia’s Bahari contemplate partnership deal – Egypt Today

Egypt’s KCFMT, Saudi Arabia’s Bahari contemplate partnership deal – Egypt Today

CAIRO – 19 December 2023: Chairman of the Suez Canal Authority Osama Rabie and Minister of Transport Kamel al-Wazir met with a delegation from Bahari, Saudi Arabia's national shipping carrier, to discuss revamping the Egyptian fleet.

 

The goal is holding a partnership between Bahari and Al Kakera Company for Ferries and Maritime Transportation (KCFMT) – a state-owned firm - with the aim of exchanging experience, offering logistic services, and building ships, especially bulk carriers.  

 

In November 2023, the Suez Canal's revenues grew by 20.3 percent, reaching $854.7 million, surpassing the $710.3 million recorded in November 2022, according to a statement from Osama Rabie, the Chairman of the Suez Canal Authority (SCA).

 

The number of ships passing through the Canal during November 2023 also saw growth, totaling 2264, compared to 2171 in November 2022. This represents a 4.3 percent increase in ship traffic.

 

Furthermore, the net tonnage, a measure of the weight of cargo transported, experienced an 8.2 percent rise in November 2023, reaching 135.5 million tons, compared to 125.2 million tons in November 2022.

 

In October, the SCA announced impending changes to the crossing fees. Starting from mid-January 2024, there will be a 15 percent increase in regular crossing fees for specific vessel categories.

 

Additionally, bulk