Suez Canal Container Company sees 14% rise in freight movement in 2021

CAIRO: The Suez Canal Container Company expects to handle half a million more crates this year than in 2020, the firm’s CEO has said.

Speaking to Alarabiya, Steven Yoogalingam said he expected his business to have processed 4 million containers by the end of 2021 — a 14 percent rise on the previous 12 months.

He said $1 billion had been invested to develop the container terminal in east Port Said, adding that the company's performance was coinciding with the improvement of the Egyptian economy.

Yoogalingam said the company was working hard to operate efficiently so trade would not stop as the global economy recovered from the consequences of the pandemic.