New Sea Route Will Shorten Trade Times Between Egypt & US to 13 Days
The cargo line between the port of Damietta in Egypt and East America will be the fastest route between the two continents.
A new sea line route has been launched by Korean shipping company HMM, previously known as Hyundai Merchant Marine, to reduce trade times between Egypt and the USA to just 13 days. This will be the fastest sea route yet and will connect Egypt's Damietta port to the ports on America's east coast. In October 2023, HMM also launched another line that connects the port of Damietta with East Asian countries like China
Additionally, in the same year, Egypt's Central Agency for Public Mobilization and Statistics (CAPMAS) reported a 19.4% surge in the country's exports in 2022, reaching a total value of USD 52.1 billion.
