News Release

Tuesday, 30 September 2014

MOL and El Baraka Announce Joint Venture Shipping Agency in Egypt

MOL Liner Ltd. (MOL) and El Baraka announced the formation of a joint venture company in Egypt to directly support and develop customer relationships in the country for the container division of the major shipping line.


The decision is part of a strategy for MOL, one of the world's largest global multimodal transportation companies, to grow closer to customers and to clearly identify the commitment to development opportunities within Egypt.


The new offices will be located in Cairo, Port Said and Alexandria and the company will be operational on October 1, 2014.


Jochen Veldmann, Area Director for MOL noted that the decision to move to a joint venture arrangement in this important market is part of MOL’s company-wide strategy to have people solely dedicated to MOL, and therefore our customers will clearly benefit.


“We will be much better positioned to respond to customer needs, improve service quality, and offer full-network coverage in the region.”


Mr Veldmann also said MOL had enjoyed a strong and long-lasting relationship with Inchcape Shipping Services (Egypt) Ltd. (ISS) and thanked the company for being an excellent partner over the past years.


MOL, El Baraka and ISS will work closely together during the transfer of operations to ensure a smooth transition and ISS will continue to support MOL’s business in East Africa where cooperation in Kenya, Tanzania and Uganda has existed for a number of years.