Uggla said East Port Said Port could play a key role in reconstruction efforts. The meeting was attended by Suez Canal Authority (SCA) chief Osama Rabie, according to a presidential statement.
He praised Egypt’s “vital role” in mediating a ceasefire in Gaza and hosting the Sharm El-Sheikh Summit for Peace, saying these efforts would help stabilize the region and restore shipping traffic through the Red Sea.
Uggla reaffirmed Maersk’s commitment to continued cooperation with the SCA, describing the Suez Canal as “the world’s most important shipping artery” and a more efficient, cost-effective route than alternatives.
The canal, which connects the Red Sea and the Mediterranean, carries about 12 percent of global trade. Its revenues have declined in recent months amid disruptions to Red Sea shipping linked to the Gaza war.
Green fuel partnership
El-Sisi, for his part, welcomed Maersk’s interest in producing and supplying green fuel to ships in Egypt, saying such initiatives reinforce the country’s role as a regional hub for container trade and clean energy, part of the country’s broader decarbonization efforts.
He highlighted the partnership between Maersk and the SCA, including the company’s investment in expanding the Suez Canal Container Terminal (SCCT) at East Port Said. Maersk subsidiary APM Terminals is the majority shareholder and operator of the SCCT.
In 2022, Maersk signed a $500 million agreement with the SCA to develop and upgrade the terminal.
Expanding cooperation
Uggla said the group maintains “firm confidence in Egypt’s stable economic environment,” adding that Maersk’s investment levels reflect this trust.
He also praised “qualitative advancements” in the SCA’s infrastructure and technical capabilities, saying they position Egypt to become a regional leader in green fuel supply.
The two sides discussed cooperation in training, logistics, maritime transport, and technical expertise.
El-Sisi reaffirmed Egypt’s commitment to maintaining a favourable investment climate and to expanding Maersk’s presence in the country.
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