Egyptian government to co-found a bulk shipping company

Markets & trade

Egyptian government to co-found a bulk shipping company

14 December, 2020

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The new shipping company is called Atlantic Pacific Company for Shipping and Trade

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The Egyptian General Authority for Supply Commodities (GASC) is on its way to co-found a new shipping company called Atlantic Pacific Company for Shipping and Trade, according to Splash 247.

Being one of the world's largest buyers of vegetable oil and wheat, its presence on the market is noticeable. Egyptian exports revolve around natural gas and mostly ready-made clothes, textiles, medical and petrochemical products.

The new shipping company has received green light from the government and is set to start building their own bulk shipping vessels.

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Markets & trade