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Egypt's Sokhna port strike costs $1.6m daily : Customs head

Egypt's head of customs estimates the daily cost of the strike in Ain Sokhna Port

Ahram Online, Monday 13 Feb 2012
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Egypt loses around LE10 million ($1.6 million) daily in customs revenues due to halting the  shipping activities in Ain Sokhna port, the country's head of customs authority Ahmed Farag said on Monday.

Workers of Egypt's eastern Ain Sokhna port downed tools on Sunday to pressure their management for offering them profit share and risk allowance.

Operation in the port remained shut down on Monday as the management refuses to give in to the workers demands.

Farag added that the LE10 million is the approximate daily customs revenue generated from the port.

He also explained that Egyptian exports are severly harmed by the work stoppage in the privately operated port.

DP World, the port's operator, did not disclose the extent of their financial loss from the strike. 

In September, however, the company said that shutting down the port following previous labour strikes had cost the company about LE30 million ($5.02 million) in lost revenue.

Sokhna Port is Cairo's primary seaport for cargo originating from the Far East. The port, which is operated by Dubai-based DP World, employs around 1,200 permanent and 4,000 temporary workers.

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