Current Nawat at Egyptian ports
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The exclusion of Suez Area and the scope of the red sea until latitude 15 north From High-Risk Piracy Areas

A great achievement for the Maritime Transport Sector as a result of an extensive effort exerted for four consecutive years in debates with The Baltic and International Maritime Council (BIMCO) and all international marine institutions to prove that Suez and the Red Sea area is an area free of piracy.

Where The Baltic and International Maritime Council (BIMCO) published in November 2011 “The Best Management Practices BMP" and specified the Suez and the Red Sea area among the High-risk piracy areas; Which led to increase of the insurance rates of vessels sailing in the region and resulted in serious security impacts which allowed commercial ships that pass in this region to carry weapons as a means of defense against security risks.

A Paper was presented by the Maritime Transport Sector in coordination with all national parties, and was submitted to the Maritime Safety Committee (MSC) at its Ninety-fifth session, which was held at the headquarters of IMO in London from 3 to 12 June 2015, through which the Egyptian delegation succeeded to provide arguments in favor of the impossibility of the occurrence of piracy activities in Gulf of Suez and the Red Sea areas. Egypt was supported by most of the State delegations present at the meeting.

Accordingly, a decision of MSC has been issued directing The Baltic and International Maritime Council (BIMCO)  to modify the scope of high-risk piracy areas  and submits  this amendment to MSC on its release.

In the framework of Maritime Transport Sector follow-up of the developments of that subject; on 10.11.2015 The Baltic and International Maritime Council (BIMCO) issued an amendment to paragraph "2" of “The Best Management Practices BMP" "annexed" related to identifying the scope of piracy high-risk areas; the new scope of acts of piracy will be with the exclusion of Suez Area and the scope of the red sea until latitude 15 north from High-Risk Piracy Areas. Thus, this amendment shall be implemented by masters and crew of the vessels as of December 2015 in order to give shipping companies and vessels crew time to adapt to it and because of its impact on the charter contracts and vessels insurance contracts, as well as on the security of vessels passing through the region.

This is considered an accomplishment for the Maritime Transport Sector, as it succeeded in excluding the Egyptian territorial waters and the scope of the entire Red Sea until latitude 15 north of high-risk areas for piracy, which contributes to:

  • Having a positive impact on the reputation of the Egyptian ports and territorial waters excluded from piracy high-risk areas, leading to a decrease in the insurance rates for vessels passing through the region, thus reducing freight charges on transported cargo to and from the region.
  • Having a positive impact on vessels passing through the region through:

-         The elimination of the need for vessels passing through this region to carry weapons on board. This decrease of security safeguard costs for vessels and consequently reduces the value of the entire cost of the voyage.

-         The transference of foreign security companies' scope of work that supplies vessels with armed security teams to post-latitude 15 in the direction of the south.


Information Services

The Egyptian Pound Against Foreign Currencies

59.426

47.834

46.814

25.366

23.042

20.13

18

13.385

4.944

4.901

4.8

2.627

2.072

0.162