March 6, 2009
Port traffic down in Egypt
Egypt's Ministry of Transport said Friday that traffic in the county's ports dropped by 1.9 percent in 2008 due to the global economic slowdown.
Ports are also expected to face a sharp downturn in 2009, the ministry said. The number of containers ports will handle is expected to drop to 4.5 million, down 20 percent from 2008, Kuna reported.
Egypt recently unveiled a plan to double its container traffic, targeting 8 million by 2010, putting the figure roughly in line with Dubai and New York and Rotterdam, the report said.