Yang Ming sets up subsidiary in Egypt
Taiwan-based container line Yang Ming said Friday it has opened a new subsidiary in Egypt, Yang Ming Shipping (Egypt) S.A.E.
The subsidiary is a joint venture with Yang Ming's agent in Egypt, Finmar Shipping Co., which has represented the shipping line there since 1995. The new company will have offices in Alexandria, Cairo, Port Said, Damietta, Sokhna and Port Suez.
'The joint venture is a natural progression of the close relationship between the two companies and part of Yang Ming's strategy of maintaining its competition lead in Egypt by enhancing its regional service network and service quality,' the carrier said in a statement.
