Shipping Arabia, November 11, 2026 – Egypt’s Damietta Port Authority has taken delivery of two new marine tugs, Metwally and Arafat, as part of a four-tug shipbuilding program designed to modernize its marine services fleet and strengthen port operational capabilities. The vessels were constructed by the Egyptian Ship Repair and Building Company under a contract covering four new tugs for the port authority.
The delivery represents another step in Damietta Port’s fleet modernization strategy, which aims to improve marine services, strengthen operational readiness and enhance the efficiency of vessel assistance operations.
The handover ceremony took place at the Egyptian Ship Repair and Building Company, attended by senior officials from Egypt’s Ministry of Transport, Damietta Port Authority, the Egyptian Navy and other maritime organizations.
New Damietta Port Tugs Feature 70-Tonne Bollard Pull
The two new tugs share identical technical specifications and feature tractor-type propulsion arrangements designed to provide high maneuverability and precise control during towing and vessel assistance operations.
Each vessel measures 35 meters in length, with a beam of 11.5 meters and a draft of 6.10 meters. Both tugs have a bollard pull capacity of 70 tonnes and can reach speeds of 12 knots at full load.
Their tractor configurations provide maneuvering capabilities suited to port towing and ship assistance operations, supporting the authority’s efforts to improve marine service efficiency.
The delivery forms part of a broader contract awarded to the Egyptian Ship Repair and Building Company for four marine tugs. The project aims to enhance the capabilities of Damietta Port’s operational fleet and support its current and future requirements.
The handover ceremony was attended by Rear Admiral Dr. Nihad Shahin, Egypt’s Vice Minister of Transport for Maritime Transport, and Rear Admiral Tarek Adly Abdallah, Chairman of Damietta Port Authority.
Other participants included Rear Admiral Sherif Zaki Bassiouni Debis, representing Egyptian Navy Commander Vice Admiral Mahmoud Fawzy, and Rear Admiral Yasser Fathy El Sherif, Director General of the Maritime Industries and Services Organization.
Rear Admiral Khaled Khalil Qonsowa, Chairman of the Egyptian Ship Repair and Building Company, also attended alongside senior representatives of Egyptian port authorities and other transport organizations.
During the ceremony, Qonsowa outlined the company’s experience in constructing marine vessels and highlighted its specialized engineering and technical capabilities. He emphasized the importance of cooperation with Egyptian port authorities in developing marine service fleets.
Vice Minister Nihad Shahin also praised the cooperation between the Ministry of Transport, its affiliated port authorities and the Egyptian Ship Repair and Building Company. He reaffirmed the ministry’s commitment to continuing and strengthening this collaboration.
The ceremony included a documentary presentation highlighting the construction stages of several marine and inland waterway vessels built by the company for Egyptian port authorities.
Following the official proceedings, attendees observed the launching and handover of several newly constructed marine and river vessels for different authorities, including Metwally and Arafat for Damietta Port Authority.
The addition of Metwally and Arafat supports Damietta Port Authority’s ongoing efforts to upgrade its marine assets and enhance the operational readiness of its tug fleet.
The four-tug construction program forms part of the authority’s strategy to modernize its marine service vessels and improve the efficiency of navigational support operations.
Through cooperation with specialized Egyptian shipbuilding companies, Damietta Port Authority aims to develop its operational capabilities while supporting domestic shipbuilding expertise.
The latest delivery reflects the authority’s continuing investment in marine infrastructure and fleet development to meet existing operational demands and support future port expansion requirements.
Shipping Arabia, November 2, 2026 – The Suez Canal Authority (SCA) and Belgium’s DEME Group are exploring new cooperation opportunities in dredger maintenance, marine unit repairs and dredger hull construction. The discussions build on a partnership spanning more than 70 years in dredging and marine engineering.
SCA Chairman and Managing Director Adm. Ossama Rabiee met with DEME Group Area Director Eng. Amedeo Peyron at the Authority’s headquarters, the Al-Irshad building, in Ismailia. The meeting also included DEME Area Manager Eng. Wael El Alfy and SCA Dredging Department Director Eng. Tarek Gharib.
Suez Canal Authority and DEME Discuss Shipyard Cooperation
During the meeting, Rabiee expressed appreciation for the longstanding strategic partnership between the two organizations. He emphasized the SCA’s commitment to maintaining close coordination with DEME while keeping pace with the latest international developments in dredging technology.
The discussions addressed potential cooperation in maintaining and repairing dredgers and other marine units at SCA shipyards. Both sides also explored opportunities for cooperation and partnerships in dredger hull construction.
These areas represent potential opportunities to extend their existing relationship beyond dredging operations into vessel maintenance, repair and construction activities.
SCA Expands Dredging Fleet Capabilities and Operations
Rabiee highlighted the SCA’s fleet modernization program, particularly the addition of the dredgers MOHAB MAMISH and HUSSEIN TANTAWY. He described the two vessels as the latest and largest dredgers in the Middle East.
Both dredgers have participated in the Suez Canal’s southern sector development project, demonstrating their role in the Authority’s ongoing waterway development activities.
The SCA has also expanded the operational scope of its dredging fleet beyond the Canal itself. Its dredgers now participate in major national infrastructure projects, including the development of Egyptian ports and lake clearing operations.
This broader deployment reflects the Authority’s growing involvement in dredging and marine infrastructure projects across Egypt.
DEME Highlights Longstanding Partnership and New Suez Canal Project
Peyron reaffirmed DEME Group’s interest in pursuing further cooperation with the SCA, highlighting the opportunities created by their longstanding relationship. He expressed confidence in the Suez Canal and its development projects while identifying joint projects and technical expertise exchange as potential areas for future collaboration.
He also recalled DEME’s involvement in several Suez Canal development initiatives, particularly the New Suez Canal project.
According to Peyron, DEME deployed a fleet of 10 dredgers during the project and completed dredging works totaling 41 million cubic meters. The operation remains a significant example of cooperation between the Belgian marine engineering group and the Egyptian authority.
Peyron emphasized that the partnership provides a foundation for further joint activities and knowledge exchange in dredging and marine engineering.
At the conclusion of the meeting, Peyron presented a scale model of SPARTACUS, DEME Group’s latest dredger, to the Suez Canal Museum in Ismailia. The presentation marked the longstanding relationship between the two organizations.
Shipping Arabia, October 30, 2026 – The Suez Canal Authority (SCA) and Greece have discussed opportunities to expand Suez Canal maritime cooperation in industrial activities and logistics services, with a focus on attracting Greek investment to projects in the Canal region.
The discussions took place during a meeting between SCA Chairman and Managing Director Adm. Ossama Rabiee and Greek Ambassador to Egypt Nikolaos Papageorgiou. The meeting was held at the authority’s headquarters, the Al-Irshad building in Ismailia.
Both sides highlighted opportunities to strengthen economic and commercial relations through maritime industry partnerships, logistics development and the exchange of technical expertise.
Rabiee emphasized the importance of building on the close relationship between Egypt and Greece to expand cooperation in maritime industries and logistics services. He expressed his interest in strengthening partnerships that would support the exchange of expertise between the two countries.
The SCA chairman invited Greek companies operating in these sectors to explore cooperation opportunities with the authority. He highlighted the SCA’s development into an industrial base encompassing numerous affiliated shipyards and companies involved in maritime and industrial activities.
These capabilities provide potential areas for cooperation with Greek businesses seeking opportunities in the Suez Canal region. The discussions also reflected the two countries’ shared interest in expanding their maritime and commercial relationships.
Suez Canal Development and Maritime Competitiveness
Rabiee outlined the authority’s efforts to strengthen the Suez Canal’s competitiveness through the introduction of new maritime services and activities. These initiatives form part of a comprehensive development strategy that also includes improvements to the waterway and modernization of the SCA’s fleet of marine units.
He also highlighted the Canal’s ability to respond to successive crises and operational challenges. According to Rabiee, cooperation with organizations and stakeholders across the international maritime community has played an important role in maintaining the continuity of global supply chains.
The SCA chairman emphasized that continued development of maritime services and industrial capabilities remains central to the authority’s strategy.
Greece Reaffirms Suez Canal’s Importance to Global Trade
For his part, Ambassador Papageorgiou praised the progress achieved in the Canal’s maritime and logistics services. He described its development as an ongoing success story despite unprecedented challenges and turbulent conditions affecting maritime transport.
The ambassador reaffirmed that the Suez Canal remains a key pillar of the international maritime transport industry and an indispensable artery of global trade.
He also stressed the importance of greater geopolitical stability in the region. According to Papageorgiou, stable regional conditions are essential for maintaining steady vessel traffic through the Canal and supporting the sustainability of global supply chains.
Strengthening Egypt-Greece Economic Relations
Papageorgiou emphasized that relations between Egypt and Greece are strategic and rooted in deep historical ties. He expressed his commitment to strengthening economic and commercial cooperation between the two countries in the coming period.
A central priority, he explained, is attracting additional investment to projects in the Suez Canal region, particularly through closer engagement with businesses operating in relevant sectors.
The discussions highlighted the potential for broader Suez Canal maritime cooperation between Egypt and Greece, particularly in maritime industries, shipyard activities and logistics services.
Shipping Arabia, October 28, 2026 – Saudi shipping company Bahri has signed a contract worth approximately SAR 1.692 billion with International Maritime Industries (IMI) to build three new Very Large Crude Carriers (VLCCs) in Saudi Arabia. The agreement will expand Bahri’s tanker fleet while supporting the Kingdom’s efforts to localize shipbuilding and strengthen its maritime industrial capabilities under Saudi Vision 2030.
The contract brings the total number of vessels Bahri has commissioned for construction in Saudi Arabia to nine, comprising six Ultramax bulk carriers and three VLCCs. The investment forms part of the company’s strategy to improve operational efficiency, strengthen its shipping capabilities and support the long-term sustainability of its business.
Three New 320,000-DWT VLCCs to Expand Bahri’s Fleet
Under the agreement, International Maritime Industries will construct three new crude oil tankers, each with a deadweight capacity of 320,000 DWT. The vessels will incorporate advanced energy-efficiency technologies as part of Bahri’s fleet modernization and expansion plans.
According to Bahri, the newbuild VLCCs will enhance its operational capabilities and strengthen its ability to respond to evolving requirements across global energy and maritime markets.
The investment also reflects Bahri’s focus on developing a modern tanker fleet capable of supporting its long-term commercial and operational objectives. By incorporating energy-efficient technologies into the new vessels, the company aims to improve operational performance while supporting the sustainability of its shipping business.
The three VLCCs represent the tanker component of Bahri’s nine-vessel shipbuilding commitments in Saudi Arabia. The remaining six vessels are Ultramax bulk carriers, extending the company’s domestic newbuilding activities across both crude oil transportation and dry bulk shipping.
Supporting Saudi Arabia’s Shipbuilding Industry and Vision 2030
Beyond fleet expansion, the SAR 1.692 billion contract represents a further commitment to developing Saudi Arabia’s domestic maritime manufacturing capabilities.
By commissioning International Maritime Industries to construct the three tankers, Bahri is supporting the localization of shipbuilding activities and the development of maritime supply chains within the Kingdom.
The agreement aligns with Saudi Vision 2030 objectives, particularly the ambition to establish a globally competitive maritime industrial ecosystem.
According to Bahri, strengthening domestic shipbuilding capabilities is an important part of supporting Saudi Arabia’s maritime industrial development. The company also emphasized the role of local maritime supply chains in achieving the Kingdom’s long-term industrial ambitions.
The nine vessels commissioned for construction in Saudi Arabia demonstrate Bahri’s commitment to combining fleet development with domestic industrial investment.
Through the latest VLCC contract, Bahri aims to strengthen its position in global maritime transportation while contributing to the development of Saudi Arabia’s shipbuilding sector and its broader maritime economy.
Shipping Arabia, October 28, 2026 – The Suez Canal Authority (SCA) is expanding ship repair, tugboat manufacturing and marine services to diversify its revenue sources after Red Sea security disruptions caused an estimated $17 billion in losses over two and a half years. The strategy aims to reduce dependence on vessel transit fees while developing Egypt’s maritime industrial capabilities.
SCA Chairman Osama Rabie outlined the plans during a session on foreign exchange resources and debt management at the Egypt 2026 Forum. He explained that the authority is pursuing two parallel priorities: developing the Suez Canal waterway and marine fleet while expanding commercial activities that generate revenue beyond vessel transit fees.
Rabie said the authority is investing in shipyards, marine services and manufacturing facilities, with a particular focus on tugboats and ship repair. These activities form part of a broader effort to strengthen the SCA’s financial resilience during periods of reduced shipping traffic.
Suez Canal Revenue Declines Amid Red Sea Disruptions
Rabie revealed that Suez Canal revenue fell from $10.2 billion in 2023 to approximately $3.9 billion in 2024, following escalating regional tensions and attacks on commercial shipping. Revenue subsequently reached around $4.1 billion in 2025, remaining significantly below pre-crisis levels.
The security situation in the Red Sea and Bab el-Mandeb has prompted shipping companies to redirect vessels away from the canal. As a result, daily vessel transits declined from approximately 75–80 ships before the crisis to around 30 during the disruptions.
Rabie estimated that the cumulative impact of the crisis had cost the authority approximately $17 billion over two and a half years. The reduction in shipping traffic has also affected foreign currency inflows into Egypt.
The SCA has consequently intensified discussions with shipping lines, maritime agents, industry representatives and international organizations. These consultations focus on the implications of the crisis and the conditions necessary to restore traffic through the Red Sea and Bab el-Mandeb.
According to Rabie, the authority has emphasized that alternative routes, particularly the passage around the Cape of Good Hope, do not represent a sustainable replacement for the Suez Canal. He highlighted the canal’s competitive advantages in transit time and cost, while stressing that improved regional security would support the return of vessels.
The authority is also exploring additional services for shipping companies that continue operating through the region despite the security challenges.
Expanding Marine Services and Ship Repair Operations
A central element of the Suez Canal revenue diversification strategy involves expanding the range of services available to commercial vessels. The SCA is developing capabilities in maritime salvage, towage, maintenance, ship repair, crew changes, marine ambulance services and waste collection.
Rabie said these activities provide opportunities to generate additional income while strengthening the authority’s ability to respond to maritime emergencies.
He highlighted the case of the Greek-owned bulk carrier ZOGRAFIA, which sustained damage following a missile attack near Bab el-Mandeb. The authority deployed salvage and towing resources to assist the vessel and transfer it to Suez Shipyard for repair.
The operation demonstrated how the SCA can use its existing maritime assets and technical capabilities to support vessels facing emergencies in the region. Rabie also emphasized the importance of such services in strengthening the canal’s reputation among international shipping companies.
Beyond the Suez Canal, the authority has undertaken marine infrastructure and ship repair assignments in other markets.
One example involved the rehabilitation of Libya’s Port of Sirte. The SCA deployed dredging equipment to undertake clearance and dredging operations, helping reopen the port after approximately 14 years of closure.
The authority has also carried out ship repair work for vessels belonging to companies operating in the Arab region. Some of these activities have led to annual contracts for repair services.
Discussing the financial contribution of activities outside vessel transit fees, Rabie cited returns of approximately $928 million and EGP 141 billion during the period addressed in his remarks.
Shipyard Development and Tugboat Export Manufacturing
The SCA is expanding its maritime industrial operations through shipyard development, new manufacturing facilities and cooperation with private-sector partners.
Rabie said the authority has worked to establish six new companies as part of its industrial and service development plans. These include partnerships with private businesses, government entities and specialized companies.
The initiative supports efforts to localize maritime manufacturing, strengthen domestic production and create additional sources of foreign currency revenue.
Shipyard development is underway at facilities in Port Said, Suez and Safaga. The investments aim to improve Egypt’s capabilities in shipbuilding, vessel maintenance, repair operations and tugboat construction.
The authority is also developing manufacturing facilities for tugboats, yachts and other maritime-related products. These projects are intended to increase local industrial content while opening opportunities to serve international markets.
Rabie announced that the SCA had exported two tugboats to an Italian company, each with a bollard pull of 90 tons. He described the exports as evidence of the potential for Egyptian maritime manufacturing to become a source of foreign currency revenue.
In addition, the authority plans to establish a factory specifically dedicated to manufacturing tugboats for export. Once completed, the facility is expected to target annual production of approximately 30 tugboats.
The proposed factory forms part of the authority’s strategy to increase maritime industrial exports and expand its international customer base.
Previous Crises Shape the SCA’s Diversification Strategy
Rabie placed the current Red Sea disruption within the context of several major challenges that have affected the canal in recent years.
During the COVID-19 pandemic, the authority introduced a flexible marketing policy that included transit fee discounts ranging from 45% to 75% for selected vessel categories.
The incentives targeted ships that did not ordinarily use the canal, including certain liquefied natural gas carriers and vessels operating on alternative routes. The objective was to attract additional traffic and offset some of the effects of the slowdown in global maritime trade.
Rabie also referred to the grounding of the container ship EVER GIVEN in March 2021, which blocked the canal for six days and generated estimated losses of approximately $90 million.
He said the authority used a combination of dredging and maritime salvage techniques to refloat the vessel. The operation avoided a potentially much longer disruption, with initial estimates suggesting that the salvage process could take several months.
Following the reopening, the SCA reorganized the passage of approximately 422 vessels that had accumulated in the Mediterranean and Red Seas. Working around the clock, the authority cleared the backlog in approximately four days.
These experiences, Rabie explained, demonstrated the importance of operational flexibility and the ability to respond quickly to unexpected developments affecting maritime traffic.
Continued Investment in Canal Infrastructure and Maritime Industries
Despite the decline in transit volumes, the SCA intends to continue developing the canal waterway and renewing its marine fleet.
Rabie said these investments remain essential to improving operational efficiency and maintaining the canal’s competitiveness. At the same time, expanding industrial production and marine services will help the authority manage fluctuations in global shipping activity.
The approach combines traditional canal operations with shipbuilding, repair services, towage, salvage and other maritime activities that can generate revenue independently of transit volumes.
Rabie emphasized that the authority’s strategy is not limited to waiting for vessel traffic to recover. Instead, it seeks to make better use of existing assets, develop local maritime industries and establish additional commercial activities.
The recovery of Red Sea and Bab el-Mandeb shipping remains closely linked to improvements in regional security. Meanwhile, the authority is pursuing broader maritime revenue streams to reduce its exposure to geopolitical disruptions and fluctuations in canal traffic.
Shipping Arabia, October 18, 2026 – Dubai-based Emarat Maritime, part of Sharaf Group, has added six 74,000-dwt LR1 product tankers to its newbuilding program in China, bringing its total orderbook to 22 vessels. The latest additions will significantly expand the company’s presence in the product tanker segment while supporting a broader fleet expansion covering tankers, gas carriers and feeder container ships.
According to the company’s fleet records, the first two LR1 tankers are scheduled for delivery in 2029, followed by the remaining four in 2030. The six vessels represent a substantial addition to Emarat Maritime’s existing LR1 fleet, which currently consists of three older product tankers.
The contract value has not been disclosed. However, recent comparable LR1 tanker orders at Chinese shipyards have been priced at approximately $55 million per vessel, suggesting an indicative combined value of around $330 million for the six newbuildings.
Six New LR1 Tankers to Triple Existing Fleet
The latest Emarat Maritime newbuilding program will considerably strengthen the company’s position in the LR1 product tanker market.
Its current operational LR1 fleet comprises three vessels: Dubai Diamond and Dubai Gold, both built in 2007, and Dubai Green, which entered service in 2005.
The six newbuildings will increase the company’s LR1 fleet from three to nine vessels upon delivery, assuming the existing ships remain in service.
The investment adds newer tonnage to a segment where Emarat Maritime already has an established operating presence. With deliveries extending through 2030, the company is committing to a longer-term expansion of its product tanker fleet.
Emarat Maritime Newbuilding Program Expands Across Multiple Vessel Types
The six LR1 tankers form part of a much larger shipbuilding pipeline involving Chinese shipyards.
Emarat Maritime has also ordered six 114,000-dwt LR2 product tankers at Hengli Heavy Industries. One of these vessels is scheduled for delivery in 2026, while the remaining five are expected to join the fleet in 2027.
Together, the LR1 and LR2 orders account for 12 product tankers within the company’s current newbuilding portfolio.
The expansion is not limited to the tanker market. Emarat Maritime, which currently operates 19 vessels, is also developing its container shipping activities.
In June 2026, shipping research firm Alphaliner reported that the company had contracted three 930-TEU feeder container vessels at Hubei Guangji Xinneng Shipbuilding, with options for three additional ships.
The company’s updated fleet records now include six feeder container newbuildings. Four are scheduled for delivery in 2028, with the remaining two expected in 2029.
The complete 22-vessel newbuilding portfolio therefore comprises 12 product tankers, four large gas carriers and six feeder container ships.
This represents a significant expansion relative to Emarat Maritime’s existing operational fleet of 19 vessels. The investments also extend its newbuilding commitments across several shipping segments rather than concentrating exclusively on oil transportation.
Emarat Maritime’s latest tanker investment comes amid elevated secondhand vessel prices in the LR1 segment.
According to market information cited in the report, the 2016-built tankers Bluebird and Starling were reportedly sold to UAE interests for approximately $55 million each.
These reported transaction values are broadly comparable to recent Chinese shipbuilding prices for new LR1 product tankers, which have also been around $55 million per vessel.
The comparison highlights the substantial prices being achieved by existing LR1 tonnage alongside continued investment in new vessels.
For Emarat Maritime, the addition of six LR1 tankers represents a major increase in capacity within its established product tanker business. Alongside the company’s LR2, gas carrier and feeder container commitments, the latest additions bring its newbuilding pipeline to 22 ships, with scheduled deliveries extending through 2030.
Shipping Arabia, October 16, 2026 – The Suez Canal Authority (SCA) and Sri Lanka have discussed opportunities to strengthen maritime cooperation with Sri Lanka across shipbuilding, port operations, marine construction, logistics and specialized training. The discussions also covered potential partnerships between SCA-affiliated companies and Sri Lankan maritime businesses, alongside investment opportunities in the Suez Canal region.
SCA Chairman Adm. Ossama Rabiee met with Sri Lanka’s Ambassador to Egypt, Sisira Senavirathne, on October 7 at the authority’s Pilotage Building in Ismailia. The meeting focused on expanding bilateral cooperation and exchanging expertise in areas of mutual interest.
Rabiee welcomed the growing ties between Egypt and Sri Lanka, noting that both countries share a strong interest in maritime affairs. He said this common focus creates opportunities for collaboration in maritime industries, logistics, training and other related activities.
Expanding Maritime Cooperation With Sri Lanka
During the meeting, Rabiee confirmed that the SCA’s affiliated companies and shipyards are ready to explore cooperation with Sri Lankan maritime companies and institutions. Potential areas include marine construction, port works, the construction of different types of marine vessels and units, fishing activities and logistics services.
The SCA chairman also highlighted the capabilities of the authority’s Maritime Training and Simulation Academy. He identified maritime training and specialized consultancy services as additional areas where Egyptian and Sri Lankan organizations could exchange expertise and develop cooperation.
These opportunities form part of wider discussions aimed at strengthening institutional and commercial links between the two countries’ maritime sectors. The talks addressed both industrial activities and services supporting maritime operations.
Suez Canal Strategy Focuses on Maritime Industries and Logistics
Rabiee outlined the SCA’s strategy to diversify revenue sources and improve the canal’s competitiveness. He said the authority has significantly expanded its activities and services as part of an integrated approach to developing its maritime business.
The strategy focuses on localizing maritime industries while developing and modernizing marine and logistics services. According to Rabiee, these initiatives aim to broaden the authority’s activities and strengthen the range of services available within the Suez Canal sector.
He also addressed the geopolitical challenges affecting maritime trade in the region. The SCA continues to engage with stakeholders across the shipping industry to coordinate efforts and reduce the impact of regional tensions on trade passing through the canal.
Rabiee emphasized that these efforts also support the continuity of global supply chains. Maintaining communication and cooperation with the maritime community remains part of the authority’s approach to addressing current challenges.
Sri Lanka Eyes Investment Opportunities and Maritime Partnerships
Ambassador Senavirathne expressed appreciation for Egypt’s efforts to manage the Suez Canal efficiently despite the challenges affecting the region. He also acknowledged the canal’s important role in facilitating international maritime trade.
The ambassador emphasized Sri Lanka’s interest in opening new channels for maritime cooperation and exchanging expertise with Egyptian institutions and businesses. He also highlighted his country’s interest in exploring investment opportunities associated with development projects in the Suez Canal region.
Senavirathne pointed to Egypt’s strategic geographical location and developing infrastructure as factors supporting its investment attractiveness. He noted that these advantages contribute to the country’s important position in global trade.
As part of efforts to strengthen business connections, the ambassador invited the SCA and its affiliated companies and shipyards to participate in Sri Lanka Expo 2027, scheduled for mid-January 2027.
The exhibition, focused on exports, international trade and industry, was presented as an opportunity for Egyptian and Sri Lankan companies to establish partnerships and exchange technical and commercial expertise.
At the conclusion of the meeting, Rabiee presented the Suez Canal Shield to the Sri Lankan ambassador. He also invited Senavirathne to take a maritime tour of the New Suez Canal and visit the Suez Canal Museum to learn more about the canal’s development achievements.
Shipping Arabia, October 15, 2026 – Egypt’s El Wehda for Industrial Development, part of El Garhy Steel Group, is negotiating with Chinese and Dutch companies to participate in the Damietta ship recycling project, which targets an annual recycling capacity of approximately 2 million tons during its first phase.
According to Al Borsa News, the negotiations aim to secure international technical expertise in vessel dismantling and introduce advanced recycling methods that meet environmental protection requirements. Egypt’s Ministry of Transport has been seeking a foreign partner with specialized experience in ship recycling to support the adoption of modern technologies.
The project involves investments running into the billions, although the report does not specify the currency or total investment value. It aims to establish a major ship recycling operation that will also supply recovered steel scrap to Egypt’s domestic steel industry.
Damietta Ship Recycling Project Targets 2 Million Tons Annually
The Damietta ship recycling project will occupy approximately 2 million square meters in the western area of Damietta Port. The facility will dismantle vessels and process recovered materials into commercially tradable scrap in accordance with international standards.
During its first phase, the development aims to achieve an annual ship recycling capacity of approximately 2 million tons. The proposed involvement of Chinese and Dutch companies forms part of efforts to obtain the technical expertise required for modern recycling operations.
The project’s scope extends beyond vessel dismantling. It also includes the construction of new ships and the provision of scheduled and emergency vessel repair services at Damietta Port.
In September 2024, the Holding Company for Maritime and Land Transport and El Wehda for Industrial Development signed an agreement to establish a company responsible for managing the ship recycling and shipbuilding project, alongside the planned and emergency repair activities.
The initiative was originally introduced in 2024, with implementation expected to begin around the current period. However, according to the source cited by Al Borsa News, work is now anticipated to commence within the next two years.
Recycled Ship Steel to Supply Egyptian Steel Mills
A principal objective of the Damietta ship recycling project is to supply Egypt’s steel manufacturers with scrap recovered from dismantled vessels. The recovered materials are intended to help address the existing shortage of steel scrap in the domestic market.
According to the report, scrap obtained from ships is characterized by its high quality and relative ease of cutting, processing and melting. These characteristics make it suitable for use as raw material in steel production.
El Wehda for Industrial Development plans to begin concluding supply agreements with domestic steel mills to receive the scrap generated by the project. These arrangements would establish a market for recovered materials once recycling operations begin.
The initiative comes as Egypt’s steel industry faces a substantial gap between domestic scrap availability and manufacturing requirements.
Egypt currently produces approximately 8 million tons of reinforcing steel annually, while the combined production capacity of licensed factories stands at around 16 million tons per year.
Meanwhile, the country obtains approximately 1.5 million tons of steel scrap annually from domestic sources and imports an additional 3 million tons from international markets.
These figures highlight the steel industry’s reliance on imported scrap to supplement local supplies. By directing recovered ship steel to domestic manufacturers, the Damietta project aims to contribute to meeting part of the industry’s existing raw material requirements.
Foreign Expertise and Project Implementation
The ongoing negotiations with Chinese and Dutch companies represent an important element of the project’s development process.
According to the source, the Ministry of Transport has been interested in identifying an international partner capable of providing the technical knowledge needed for ship recycling activities. The objective is to introduce modern dismantling techniques while maintaining environmental protection standards.
The planned recycling operations will therefore combine vessel dismantling with material recovery, allowing steel extracted from ships to enter Egypt’s industrial supply chain.
Although the project’s implementation timetable has shifted from the original expectations, the targeted recycling capacity and plans to supply domestic steel producers remain central to the development.
The next phase is expected to involve advancing the proposed international partnerships and preparing commercial arrangements with steel manufacturers ahead of the project’s anticipated implementation.
Shipping Arabia, October 14, 2026 – Egypt’s Damietta Port Authority has commissioned two new high-speed pilot boats, Pilot 1 and Pilot 2, as part of its fleet modernization program. The vessels have entered service to strengthen marine operations, improve response capabilities and support growing vessel traffic at the port.
The commissioning coincided with celebrations marking the anniversary of Egypt’s October Victory. The addition of the two vessels forms part of the authority’s efforts to modernize its marine service fleet and maintain efficient port operations.
The new Damietta Port pilot boats combine speed, maneuverability and modern navigation equipment. Their deployment aims to enhance the port’s operational readiness and ensure the continued delivery of reliable marine services as shipping activities expand.
Technical Specifications of the New Pilot Boats
The two vessels were constructed by Egyptian Ship Repair & Building Co. using marine-grade aluminum alloy. Each boat measures 15.3 meters in length, with a beam of 5.2 meters and a draft of 1.4 meters.
Each vessel is powered by two engines rated at 550 horsepower each, enabling a maximum speed of 25 knots. The boats also have a cruising range of 500 nautical miles at cruising speed, providing operational flexibility for marine service assignments.
These specifications are intended to support rapid response and effective maneuvering during maritime operations. The combination of engine power, speed and vessel design strengthens the authority’s ability to carry out marine service activities efficiently.
Both pilot boats feature modern navigation and communication equipment, including marine radar, echo sounders, positioning systems and Automatic Identification Systems (AIS). They also carry integrated safety equipment and systems designed to recover personnel from the water.
Construction, Delivery and Commissioning
Damietta Port Authority received the two pilot boats following completion of construction by Egyptian Ship Repair & Building Co., in accordance with the contract between the two organizations.
After construction, both vessels were transported by road to Damietta Port. They were subsequently launched into the water from the port’s marine services quay before entering operational service.
The commissioning ceremony was attended by Damietta Port Authority Chairman Rear Admiral Tarek Adly Abdullah, alongside Vice Chairman Rear Admiral Ahmed Hamdy Abdelaziz.
Other attendees included Captain Yasser Abdel Latif, Head of the Central Department of Marine Services, and Rear Admiral Refaat El Mardini, Head of the Central Department of Movement and Areas. Several senior departmental officials and general managers from the authority also participated.
Strengthening Damietta Port’s Marine Service Fleet
The introduction of the new Damietta Port pilot boats represents another step in the authority’s program to develop and modernize its marine fleet.
The investment responds to increasing vessel traffic and maritime activities at the port. By introducing modern, high-speed vessels, the authority aims to improve operational readiness, strengthen marine service capabilities and maintain the regular movement of vessels and port services.
The two boats also provide additional capacity for executing marine assignments that require rapid movement, maneuverability and reliable onboard safety systems.
Beyond the operational improvements at Damietta Port, the project demonstrates the capabilities of Egyptian shipbuilding companies to manufacture specialized marine service vessels for domestic ports.
According to the authority, the project reflects the ability of local shipbuilders to deliver vessels that meet operational requirements and possess specifications that enable them to compete in the maritime market.
The commissioning of Pilot 1 and Pilot 2 therefore supports both the modernization of Damietta Port’s marine service fleet and the development of locally manufactured vessels for Egypt’s port sector.
Shipping Arabia, October 12, 2026 – Oman’s Asyad Drydock completed 130 projects and attracted 56 new international clients during the first eight months of 2026, bringing its total commercial client base to approximately 900 worldwide. The results highlight Duqm’s growing role as a maritime services and industrial hub, supported by specialized ship repair facilities and integration with the Special Economic Zone at Duqm.
The Asyad Group subsidiary completed 119 vessel repair and maintenance projects and 11 industrial projects during the reporting period. According to Asyad Drydock CEO Ahmed bin Ali Al Balushi, approximately 40% of the new clients came from markets in the Middle East and Far East.
The company’s expanding international customer base reflects the development of Duqm’s maritime services sector, which connects ship repair facilities with port services and industrial activities.
Asyad Drydock Sets New Operational Records
Asyad Drydock achieved several operational milestones during 2026, including a new record for concurrent vessel berthing during maintenance operations. The company completed 10 double-berthing maintenance operations for the first time, positioning two vessels side by side at the quay and servicing them simultaneously.
According to Al Balushi, this approach improved quay utilization and enabled the facility to handle more maintenance projects in parallel. It also allowed the company to make more efficient use of its existing infrastructure.
In another operational milestone, Asyad Drydock conducted maintenance and repair work on 27 vessels simultaneously. This achievement demonstrated the facility’s capacity to manage multiple projects while coordinating its technical workforce and repair operations.
Floating Dock Activity Expands as Shipbuilding Projects Advance
The company’s floating dock also recorded a substantial increase in activity during the reporting period. By the end of August 2026, the facility had serviced 13 vessels, compared with just two during the corresponding period in 2025.
The increased utilization of the floating dock has strengthened Asyad Drydock’s vessel maintenance capabilities and expanded its ability to accommodate repair projects.
Meanwhile, the company continues to develop its shipbuilding activities alongside its established repair and maintenance operations.
Asyad Drydock is currently undertaking two new shipbuilding projects for different applications. These projects follow the successful completion and delivery of three shipbuilding projects to customers in Oman and other Gulf markets in recent years.
The combination of vessel maintenance, industrial projects and shipbuilding activities forms part of the broader maritime services ecosystem developing in Duqm.
OMR 19 Million in Contracts Supports Omani Businesses
The expansion of Asyad Drydock’s operations is also generating business opportunities for local companies and small and medium-sized enterprises (SMEs).
During the first eight months of 2026, the company awarded contracts and purchase orders worth OMR 6.5 million to SMEs. Local companies received a further OMR 12.5 million in contracts and purchase orders.
Together, these awards totaled OMR 19 million, with local procurement accounting for 81% of the overall value of contracts awarded during the reporting period.
Al Balushi said the company’s expanding activities were strengthening domestic supply chains and creating additional opportunities for Omani businesses involved in ship repair, maintenance, shipbuilding and related industries.
The contract awards also reflect the growing participation of Omani companies in the maritime services and industrial activities associated with the Duqm facility.
Duqm Strengthens Its Position as an Integrated Maritime Hub
Asyad Drydock’s performance forms part of the continuing development of maritime services and industries within the Special Economic Zone at Duqm.
The area’s maritime ecosystem combines port services, ship repair and maintenance facilities, shipbuilding operations and related industrial activities. This integration supports the delivery of specialized maritime services to international vessels and fleets.
Al Balushi said the continued development of these services was helping Duqm attract maritime business from international markets.
The company’s project activity, operational achievements and investment in local supply chains underline the role of ship repair and shipbuilding in Duqm’s expanding maritime economy.
