The Arab Bridge Shipping Company held its 88th general assembly meeting, attended by Egyptian Minister of Transport, Engineer Kamel El-Wazir, Jordanian Minister of Transport and Labor, Dr. Engineer Nidal Qatamien, and Hazem El-Hafafi, representing the Iraqi Minister of Transport. The meeting reviewed the company's performance during the first nine months of 2026, highlighting a record profit exceeding $40 million as of September 30.
According to the company's general manager, Adnan Al-Abdalla, the results demonstrate a significant increase in various areas, including a 15% rise in transported trucks and continued growth in passenger traffic. The company's capital, assets, equity, and revenues have reached historic levels, supporting plans to modernize its fleet, expand shipping lines, and diversify income sources.
The company has recently added several new vessels to its fleet, including the passenger and cargo ship "Al-Jisr" with a capacity of 85 trucks and 254 passengers, and the high-speed boat "Ashur" with a capacity of 312 passengers. Another vessel with a capacity of 110 trucks and 253 passengers is set to join the fleet, bringing the total number of units to 11.
Al-Abdalla announced that the company is preparing to launch its vessels on new shipping lines, including the Safaga-Duba line, which will transport passengers, trucks, and goods between Egypt and Saudi Arabia. The company's plans for 2027 aim to expand its operations from maritime transport to a more integrated system, including infrastructure, services, and maritime industries.
Egyptian Minister of Transport, Engineer Kamel El-Wazir, emphasized that the company's results reflect its expansion in modernizing its fleet and diversifying activities. He expressed support for the operation of the Safaga-Duba line and the introduction of modern vessels to enhance trade and maritime connectivity with Saudi Arabia and the region.
The meeting also highlighted the company's projects, including the development and operation of a boat maintenance and repair facility in Sharm El-Sheikh, in partnership with the Red Sea Ports Authority, and the management and development of a passenger terminal in the port of Aqaba, in partnership with the Aqaba Development Company.
The company's performance was praised by attendees, who emphasized the importance of continued implementation of its strategy, enhanced cooperation between the three founding countries, and expansion of maritime services and investments in the coming phase.
Key points
- Arab Bridge Shipping Company's record profits exceed $40 million in the first nine months of 2026.
- The company plans to expand its shipping lines and modernize its fleet.
- New projects and partnerships are underway to enhance the company's services and investments.
