Egypt will be keeping ports open 24 hours a day to reduce waiting times for unloading shipments after Wednesday in which grain traders have added large premiums on shipments heading to the country to cover penalty fees for the delays. The high demurrage fees are the result of tedious inspections and a lack of storage at the port, which then causes congestion and massive delays. The extended hours come at no added cost to shippers, according to Transportation Minister Hesham Araft. It's unclear when the new hours will start and how long they will last.
Egypt will be keeping ports open 24 hours a day to reduce waiting times for unloading shipments after a year in which grain traders have added large premiums on shipments heading to the country to cover penalty fees for the delays. The high demurrage fees are the result of tedious inspections and a lack of storage at the port, which then causes congestion and massive delays. The extended hours come at no added cost to shippers, according to Transportation Minister Hesham Araft. It's unclear when the new hours will start and how long they will last.