Arab Finance: Egypt’s Pan Marine Group penned a memorandum of understanding (MoU) with Cyprus-based Columbia Shipmanagement to employ 1,500 Egyptian workers on ships owned by the latter, Ministry of Transport stated on November 7^th.

Per the MoU, Columbia Shipmanagement will develop maritime transport companies affiliated with the transport ministry and finance the construction and purchase of ships for the benefit of these firms.

Another declaration of intent was signed by Egypt and the ship operator DFDS Mediterranean, which owns the ship operating the Egyptian-Italian line, to operate a weekly roll-on/roll-off (RORO) shipping line for perishables between Egypt’s Damietta Port and Trieste port in Italy.

Also, Alexandria Port Authority and the Chinese port of Guangzhou signed an MoU to boost cooperation in the field of ports management and green and smart port systems.

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