EMC lands USD 18.6 mn Eni contract to supply Iraq’s Zubair oilfields

Egyptian Maintenance Company (EMC) — commercially known as San Masr — landed a USD 18.6 mn Iraq contract, securing Italy’s Eni tender to supply electrical equipment for Iraq’s Zubair oilfields over three years, according to a company statement. EMC will provide medium- and low-voltage equipment, distribution panels, motor-control centers, and other electrical components used across the Basra project.

IN CONTEXT- The award adds to a growing pipeline of overseas work for Egyptian engineering and petroleum-services companies. Egyptian corporates’ net outward FDI rose 30.3% y-o-y to USD 508 mn in 2024. More recently, Petrojet and Enppi secured a six-year route to compete for contracts across Petroleum Development Oman’s USD 6 bn+ project pipeline.

Peak season, peak prices

French shipping group CMA CGM is adding up to USD 8k in surcharges to container freight moving from the Red Sea and South Asia to the US, according to company advisories issued on 5 August (pdf) and 11 August (pdf). The peak-season surcharge will start at USD 6k per container on 1 September before rising to USD 8k on 15 September. It covers cargo moving from Red Sea ports, the Middle East Gulf, India, Pakistan, and Sri Lanka to the US East and Gulf coasts and inland destinations reached through them.

Egypt is not one shipping bucket: Cargo loaded at Ain Sokhna — or originating inland and routed through it — appears to fall within the Red Sea scope, although the advisories do not provide a port-by-port list. CMA CGM has previously included Sokhna within the scope of its Red Sea charges and is a partner in the 1.7 mn-TEU Red Sea Container Terminal at the port.

More on our radar:

• EgyptAir will run one weekly flight from Jeddah and Madinah to Alamein from 13 August to 12 September. (Statement)
• Russia’s aviation regulator approved direct flights from Russia to Alamein and Borg El Arab, moving beyond the preliminary accreditation granted to both airports last month. (Statement)

(** Tap or click the headline above to read this story with all of the links to our background as well as external sources.)