Hapag-Lloyd Kicks Off Construction of 2nd Port Terminal in Egypt

The German shipping company Hapag-Lloyd announced that it has started the construction of a second container terminal at the port of Damietta in Egypt. The seaport is strategically situated about 60 km from the northern entrance of the Suez Canal and aims to be a #MaritimeHub linking Africa, Europe and Asia.

“With the new terminal Hapag-Lloyd will significantly improve its transshipment operation in the East Mediterranean market as well as access to the local Egyptian trade.”

Hapag-Lloyd CEO Habben Jansen

For the purpose of this project, a JV, called Damietta Alliance Container Terminal SAE, has been created with Hapag-Lloyd holding a 39% share, Eurogate Damietta GmbH and Contship Damietta Srl each taking 29.5%. The remaining 2% is equally shared between two other partners, namely Middle East Logistics and Consultants Group and Ship & CREW Egypt SAE each having 1%.

Construction is expected to be completed in 2Q24 and the new transshipment hub will have a handling capacity of 3.3 TEU per annum. The terminal will be equipped with 50 RTG and 16 STS cranes.

“This is a very encouraging, well planned partnership of international and Egyptian private sector in order to position Egypt as a global hub for logistics and trade. In this first phase we will establish the port of Damietta as an integrated logistics hub for containers, which will then be followed by the establishment of logistic corridors reaching to different manufacturing areas in Egypt by railway network.”

Epyptian Minister of Transport, Lieutemant-General Eng. Kamel Al-Wazir

In a statement, the DG of Hapag-Lloyd Egypt Marwan el Sammak underscored that the new terminal will contribute to optimizing handling costs, resulting in improvements in productivity and punctuality.