Shipping Arabia, May 15, 2026 – Egyptian President Abdel Fattah El-Sisi welcomed the existing investment cooperation between Egypt and France’s CMA CGM Group, one of the world’s leading container shipping and maritime transport companies, during a meeting with the group’s Chairman Rodolphe Saadé on the sidelines of the Africa-France Summit in Nairobi.
The meeting focused on ways to expand cooperation in support of economic integration and trade exchange between Egypt and African countries, while strengthening maritime connectivity across the continent.
President El-Sisi praised CMA CGM’s role in implementing several projects in Egypt’s maritime and dry ports sector, highlighting in particular the company’s contribution to the development and operation of Egypt’s first semi-automated container terminal, the Red Sea Container Terminal at Sokhna Port.
He emphasized Egypt’s interest in further expanding the company’s activities and investments, particularly within the Suez Canal Economic Zone, where new investment incentives and major upgrades in maritime transport and infrastructure provide significant opportunities for global operators.
For his part, Saadé reaffirmed CMA CGM’s commitment to strengthening its presence in Egypt, noting the country’s strategic location and the substantial progress achieved in maritime transport, shipping capabilities and related logistics services.
The discussions also addressed the impact of current regional tensions on maritime routes. President El-Sisi underlined Egypt’s view that international shipping stakeholders must work together to address bottlenecks and reduce their impact on global trade and supply chain stability, particularly in the energy and food security sectors.
Source: Alborsa News
Port Congestion
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Egypt Seeks Expanded CMA CGM Investment in Suez Canal Economic Zone
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Asyad Shipping Reports 41% Rise in Q1 Net Profit to RO 16.1 Million
Shipping Arabia, May 18, 2026 – Asyad Shipping reported a 41% increase in net profit for the first quarter of 2026, supported by stronger profitability, high fleet utilization and continued expansion of its shipping portfolio.
According to a filing on the Muscat Stock Exchange, the company posted net profit after tax of RO 16.1 million for the three months ended March 31, 2026, compared with RO 11.4 million during the same period last year.
EBITDA increased to RO 51.8 million from RO 49.1 million in Q1 2025, while EBITDA margin expanded to 67%. Gross revenue reached RO 77.3 million compared with RO 83.8 million a year earlier, while direct costs declined significantly to RO 52.6 million from RO 62.2 million, improving operational efficiency and profitability.
Dr. Ibrahim Al Nadhairi, CEO of Asyad Shipping, said the company’s first-quarter performance demonstrated the resilience of its business model amid cyclical market conditions.
“Our first quarter results reflect the resilience of Asyad Shipping’s business model, with strong margins, improved profitability and high fleet utilisation driven by robust operations, balanced market exposure and a strong focus on safety and long-term value creation,” he said.
Al Nadhairi added that the company has successfully navigated multiple market cycles and global disruptions through disciplined operations and a focus on sustainable growth.
Operationally, Asyad Shipping achieved a fleet utilization rate of 99.7% during the quarter, up from 97% in Q1 2025, while reporting zero lost-time incidents, zero major incidents and zero ship detentions.
The company continued advancing its fleet renewal and expansion strategy during the quarter, completing the sale of four older LNG carriers — Salalah, Ibri, Ibra and Nizwa — in addition to one VLCC vessel. At the same time, two of three Newcastle dry bulk carriers were delivered under 10-year contracts of affreightment.
As of March 31, 2026, the company’s fleet consisted of 89 vessels, including 77 operational vessels and 12 vessels on order. Asyad Shipping also signed an agreement for three new-build VLCCs valued at RO 149.6 million, with deliveries scheduled for 2028 and 2029.
Looking ahead, the company expects delivery of 10 vessels during 2026, including two LNG carriers, four VLCCs, two medium-range tankers and two Kamsarmax bulk carriers. Five of these vessels will operate under long-term contracts, while the remainder will be deployed in spot markets.
The company added that it currently holds contracted revenues of approximately $2.2 billion extending beyond 2030, providing long-term cash-flow visibility despite ongoing market volatility.
Source: Oman Observer