National Bank Of Egypt News

The terminal is also expanding in response to Egypt’s growing population and economy, and role as a global transportation hub. East Port Said, Egypt – Completed within just three months, the new 8.5 km (5.2 mile) access channel directly links the East Port Said port complex to the Mediterranean Sea, eliminating the need for vessels heading to the Suez Canal Container Terminal (SCCT) to wait 6-8 hours for a time window between vessel convoys transiting the canal. This means that the channel, dredged to a depth of 18.5 meters (61 feet), can provide 24-hour access to East Port Said, and SCCT, to the Ultra-Large Container Ships (ULCS) of 18,000 TEU capacity and above now deployed in the Far East/Europe trade lanes, and using the canal in increasing numbers.

The Suez Canal Container Terminal, located east of the northern entrance of the Suez Canal, at the convergence of the continents of Africa, Asia and Europe, is preparing for an even larger role in global trade as the expansion of the man-made waterway linking the Mediterranean and Red Seas enables increased vessel traffic. Four additional Super-Post-Panamax cranes scheduled for delivery to the terminal in mid-2016 will bring SCCT’s crane total to 24, increasing the terminal’s annual throughput capacity to 5.4 million TEUS, and making it the largest container terminal by capacity on the Mediterranean Sea. “As one of the world’s most important waterways…

Egypt is pressing ahead with plans to develop a new wheat storage facility and expand port operations at two terminals in the Suez area as the country looks to bolster strategic food reserves and attract investment, a top port official said. President Abdel Fattah al-Sisi, who as armed forces chief toppled Islamist President Mohamed Mursi last July following mass protests, was sworn in on Sunday and seeks to fix Egypt's economy while overcoming political divisions after a long period of turmoil and bloodshed.

Accoring to reports, Atiya Salem, deputy chairman of NBE Board of Directors said that National Maritime Transport Co. has placed an order with STX Shipyard of South Korea to build six vessels of 81,000 tons & 86,000 tons capacity valued $251.6m under finance from National Bank of Egypt (NBE).