Red Sea Terminal Debuts as Ocean Carriers Test Post-Crisis Suez Routing [Yahoo! Finance]
COSCO SHP HLDG UNSP/ADR (CICOY)
NASDAQ:AMEX Investor Relations:
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Source: Yahoo! Finance
Developed by a consortium of Hutchison Ports CMA CGM and Cosco Shipping Ports , Red Sea Container Terminals (RSCT) hosted its grand opening Friday, marking Egypt's first semi-automated container terminal. RSCT is operating the new terminal under a 30-year concession agreement with the Egyptian government signed in March 2023. More from Sourcing Journal Maersk Begins Structural Return to Red Sea After 2-Year Hiatus Panama Supreme Court Weighs Fate of CK Hutchison's Canal Ports Lunar New Year to Drive Brief January Import Rebound at US Ports The fully electric terminal is stationed at Ain Sokhna Port, the largest port on the Red Sea, near the southern entrance of the Suez Canal. “This historic project, realized through our $1.8 billion investment in Egypt over the past two decades, reflects our dedication to fostering sustainable economic growth, operational excellence, and trade diversification in Egypt and beyond,” said Hutchison Ports in a statement on LinkedIn. Accord
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