Middle East

Jeddah shipowning plans struggle

Doha: Efforts to build a shipping line in Jeddah to bolster trade between Saudi Arabia and Egypt have ground to a halt on the back of rising fuel prices, the high cost of entry into shipowning, and a lack of a local trained maritime force.

Captain Mohammed bin Aboud Babidan, who heads up the shipowners division within the Jeddah Chamber of Commerce, said the proposed billion riyals project had struggled to gain traction. Local entrpreneurs have been mulling a local line to connect with Egypt for some years, however, there has been little progress, Babidan said.  [14/04/13]

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