DFDS to buy Ekol Logistics in acquisition u-turn
In a surprising commercial u-turn, Danish ferry and road freight operator DFDS has confirmed it ...
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BA: WIND OF CHANGEMAERSK: BULLISH CALLXPO: HEDGE FUNDS ENGINEF: CHOPPING BOARDWTC: NEW RECORDZIM: BALANCE SHEET IN CHECKZIM: SURGING TGT: INVENTORY WATCHTGT: BIG EARNINGS MISSWMT: GENERAL MERCHANDISEWMT: AUTOMATIONWMT: MARGINS AND INVENTORYWMT: ECOMM LOSSESWMT: ECOMM BOOMWMT: RESILIENCEWMT: INVENTORY WATCH
DFDS has shown its intent to expand its Mediterranean market share, today unveiling a new weekly ferry service between its growing Italian hub of Trieste and the Egyptian port of Damietta.
The move represents the Danish operator’s first foray into the Egyptian market and comes just days after it cancelled its €500m purchase of the international network of Turkish transport group Ekol Logistics.
It is also the first direct ferry connection between Egypt and Italy for around a decade, and DFDS said it would “facilitate the transportation of mainly fresh vegetables and fruits, textiles and other goods from Egypt to Europe via the port of Trieste, and various goods such as dairy, agricultural and industrial products from Europe to Egypt.
“This new line offers a fast and cost-effective alternative to container shipping, particularly for perishable goods,” the company added.
A DFDS spokesman told The Loadstar the route would be operated by a variety of its owned vessels, including the M/V Cappadocia Seaways, M/V Gallipoli Seaways and M/V Olympos Seaways, each offering capacity for 200 trailers.
“The new route aligns perfectly with our commitment to organic growth and solidifies our strong presence in the Mediterranean region. The service not only expands our network but also enhances our ability to connect communities and support local economies opening up opportunities for trade and stronger economic ties between the two countries,” said DFDS’s head of its ferry division, Mathieu Girardin.
In Damietta, DFDS has entered into a strategic partnership with local shipping and logistics firm Pan Marine Shipping Services, which has secured a dedicated terminal in the port for the service, which “The launch of this new freight ferry route marks a major milestone for Egypt’s trade relations with EuropePan Marine VP Marwan El Shazly. We are glad to collaborate with DFDS in providing innovative and efficient transportation solutions,” said.
The first sailing will depart Damietta on 29 November.
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