Egypt, Saudi Arabia sign maritime transport agreement

Chairman of the Suez Canal Authority Mohab Mamish signed an agreement with the National Shipping Company of Saudi Arabia (Bahri) to promote Egyptian-Saudi maritime transport through the Suez Canal.

The agreement was signed during Mamish's promotional tour of Saudi Arabia and a number of Arab countries to familiarize them with the potentials of the authority and establishment of a new canal to promote maritime transport, authority spokesman Tareq Hasanein said.

Under the agreement, Bahri will transfer all the kingdom's needs through the Suez Canal, a move that would push forward the number of vessels and shipments crossing the canal, the spokesman said.

The agreement also aims to study the possibility of establishing a joint navigation company by the authority and Bahri, he said.

The two sides will also probe the idea of founding a joint company to offer maritime services to vessels crossing the canal, he added.