Financial News

„Damietta Alliance“ developing and operating a new container terminal in Damietta, Egypt

A new terminal will be built in the port of Damietta/Egypt. For this purpose, a Joint Venture was founded to develop and operate the new “Terminal 2” in the port. The Joint Venture “Damietta Alliance Container Terminal S.A.E.” consists of three core shareholders which are Hapag-Lloyd Damietta GmbH (39%), Eurogate Damietta GmbH (29.5%) and Contship Damietta Srl (29.5%). Two other partners, Middle East Logistics & Consultants Group and Ship & C.R.E.W. Egypt S.A.E., will each hold 1%.

The new Terminal 2 at the port of Damietta is expected to start operations by 2024. It will have a final total operational capacity of 3.3 mio TEU and serve as Hapag-Lloyd´s dedicated strategic transshipment hub in the East Mediterranean.

“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”, said Rolf Habben Jansen, CEO of Hapag-Lloyd.

Thomas H. Eckelmann, Chairman of the EUROGATE Group Management Board, stated: “With the Terminal 2 being operational in 2024, Hapag-Lloyd and its partners will be able to use a state-of-the-art terminal with sufficient capacity, high productivity and a dense feeder network.”

Cecilia Eckelmann-Battistello, Chairman of the Board of Contship Italia, added: “We feel privileged and are extremely grateful for the support of the Egyptian government. The concession to operate the facility is granted to the Joint Venture for 30 years. This gives us and our respective customers a long-term perspective in the port of Damietta.”

The Egyptian Minister of Transport, Lieutenant-General Eng. Kamel Al-Wazir, commented: "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."

The final signing of the concession agreement has taken place today in Cairo, Egypt.

Press Contact Hapag-Lloyd
[email protected] +49 40 3001 – 2263

Press Contact EUROGATE
[email protected] +49 421 1425 – 3803

Press Contact CONTSHIP Italia
[email protected] +39 01 8755 – 5576

About Hapag-Lloyd
With a fleet of 253 modern container ships and a total transport capacity of 1.8 million TEU, Hapag-Lloyd is one of the world's leading liner shipping companies. The company employs around 14,100 people and has 421 offices in 137 countries. Hapag-Lloyd has a container fleet of around 3.1 million TEU - including one of the largest and most modern refrigerated container fleets. Worldwide 126 liner services provide fast and reliable connections between more than 600 ports on all continents. Hapag-Lloyd is one of the leading providers in the Transatlantic, Middle East, Latin America and Intra-America trade lanes.

About EUROGATE
EUROGATE is the leading, shipping line independent container terminal operator Group in Europe. Jointly with the Italian terminal operator CONTSHIP Italia, the company operates a network of container terminals at 12 locations from the North Sea coast to the Mediterranean area. In addition to container handling services at seaports, EUROGATE offers intermodal transport and additional services around the box. EUROGATE was founded in 1999, and handled around 12.3 million TEUs Europe-wide in 2021. For more information, please visit www.eurogate.eu

About CONTSHIP Italia
CONTSHIP ITALIA is the holding company of a group founded in 1969, engaged in the development of integrated solutions for the transport and handling of goods through the management of maritime container terminals, railway terminals and intermodal transport services. The Contship Italia Group operates directly in the ports of La Spezia, Ravenna, Salerno, Tangier and in the railway hubs of Melzo (MI) and Marzaglia (MO), handling around 4 million TEUs World-wide in 2021. For more information, please visit www.contshipitalia.com

Disclaimer

This press release contains forward-looking statements that involve a number of risks and uncertainties. Such statements are based on a number of assumptions, estimates, projections or plans that, by their nature, are subject to significant risks, uncertainties and contingencies. Actual results may differ materially from the Companies’ forward-looking statements and expected results.