Port Said Tunnel to SCCT Opened
The opening of the Port Said tunnel, under the Suez Canal just south of Port Said last week is an important piece of the jigsaw required to position the Suez Canal Container Terminal (SCCT) as Egypt’s primary gateway terminal.Construction of the twin-tubed, 4-lane road tunnel began in 2017. Its inauguration follows the opening of the Ismailia tunnel earlier this year and the 30th June Axis road, a 10-lane highway with 2+2 dedicated lanes for trucks.With the terminals strategic location offering no deviation from the main routes on trade lanes between Asia and Europe, around 95% of SCCT’s traffic has historically been made up of transshipment volume.“The new tunnel…
APM Terminals to Support SCCT
The international container terminal operating company headquartered in The Hague, APM Terminals said that it is working closely with the government of Egypt on the final pieces of the jigsaw that will ensure the success of Egypt Vision 2030 for Port Said East Port and the Suez Canal Container Terminal (SCCT).Once in place, it is set to regain its position as one of the most competitive ports in the South and East Mediterranean region, APM said in a press release.As part of Egypt Vision 2030, the Egyptian Government has made massive investments in infrastructure. On May 5, 2019, Egypt’s President, Mr. Abdel Fattah Al-Sisi inaugurated the Ismailia tunnel…
Epic Gas Secures Tankship Fleet Expansion Credit
CITIC Maritime Finance says it has provided a $46.4 million senior secured credit facility to Epic Gas Ltd. headquartered in Singapore, which operates a fleet of 40 LPG and petrochemicals tankships. CITIC add that the facility was used to partially finance the acquisition of a fleet of five LPG tankers that includes three newbuildings and two modern gas carriers acquired in the secondary market. Financing from CIT was provided by CIT Bank, the U.S. commercial bank subsidiary of CIT. Terms of the transaction were not disclosed.
Epic Gas Continues Fleet Expansion, to Open London Office
Singapore-based Epic Gas Ltd. say that following their recent order of two LPG 11,000cbm vessels from Kyokuyo Shipyard Corporation in Japan, it will add two more similar-sized newbuilds to its expanding fleet. These two 11,000 cbm vessels will be long term bareboat chartered in from Kumiai Senpaku Co., Ltd., of Japan. The first vessel will be built by Sasaki Shipyard Co., Ltd. for delivery in 2015 and the second vessel by Kyokuyo Shipyard Corporation to be delivered in 2016. “We are glad to have formed a strong partnership with a prominent ship owner like Kumiai Senpaku Co.…
