A cargo ship is moored in the harbor of Dunkirk, northern France. (Reuters)
Egypt allows state grains buyer GASC to co-found shareholding shipping company
Egypt’s cabinet said on Thursday it agreed a draft bill to allow the state grains buyer, the General Authority for Supply Commodities (GASC) to co-found a shareholding shipping company to transport commodities in and out of the country.
For all the latest headlines follow our Google News channel online or via the app
The company, to be known as Atlantic Pacific Company for Shipping and Trade, will focus on the marine shipping of commodities within Egypt and abroad, and will own commercial shipping vessels.
Read more: Egypt achieves self-sufficiency in rice in 2020 with 6.5 mln tons: Cabinet
GASC tenders frequently for vegetable oils and wheat, of which it is the world's largest buyer.
Shipping offers are presented in the tender, and many are often awarded to the state-owned National Navigation Company.
Also Read
-
Egypt’s GASC buys 34,450 tonnes of soyoil in local vegoils tender: Trade
-
Egypt’s GASC says seeking at least 100,000 tons white rice
-
Egypt’s GASC buys 180,000 tons of Russian, Romanian wheat
-
Egypt’s GASC buys 300,000 tonnes of wheat
-
Egypt achieves self-sufficiency in rice in 2020 with 6.5 mln tons: Cabinet