Egypt’s chambers of shipping say the executive regulations of maritime shipping law number 800/2016 is bad for business, Al Masry Al Youm reported. The Alexandria Chamber of Shipping (ACS) points specifically to article 41, which allows the state to confiscate all construction built on ports by shipping companies after seven years, a move akin to going back to “the era of nationalization.” The companies’ constructions at ports were built by their own funds and not on a BOT basis, the head of the ACS says, and confiscating them would be in violation of article 94 of the constitution. Shipping companies also believe that the new rates of increases on license renewal and services of “over 2,000%” are crippling business and suggest they be gradual so that costs can be absorbed by the market.

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