3 Feb 2011

Egypt turmoil affects shipping industry

12:49 pm on 3 February 2011

The turmoil in Egypt is starting to concern the global shipping industry.

Egypt is a vital shipping route between Europe and Asia, with about 8% of the world's trade passing through it.

The Egyptian army remains in control of the Suez canal, keeping one of the world's most important shipping routes open.

But ships wanting to dock and refuel before leaving Egypt are finding ports such Alexandria, Damietta and Port Said unmanned or running on a skeleton crew.

The chairman of the shipping consultancy, MTI Network, Patrick Adamson, says alternative ports may need to be used, but at a cost.

Maersk New Zealand says its ships to Egypt and through the Suez Canal have not been affected though it is keeping a watching brief on the situation.