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News: #Djibouti Ports and Free Zones Authority bans retroactive surcharges amid Gulf crisis The Djibouti Ports and Free Zones Authority (#DPFZA) has directed all licensed shipping agents that cargo loaded prior to the ongoing #Gulf_crisis must not incur any additional surcharge fees. In a notice issued today, DPFZA Chairman Aboubaker Omar Hadi said, “this measure is intended to ensure fairness to both cargo owners & ship-owners and to prevent the retroactive application of surcharges to shipments arranged before the onset of the Gulf crisis.” The authority warned that violations would face strict administrative and regulatory measures under port regulations. Global shipping is under further strain, according to a report released today by #GrECo, a leading corporate risk consultant and specialty insurance broker across Central and Eastern #Europe. For #Ethiopia, which depends on Djibouti for over 95% of its foreign trade, the impact could be significant. Read more: https://addisstandard.com/?p=55736

News: #Ethiopian Investment Holdings seeks 10-hectare plot in #Djibouti for fuel storage facility Ethiopian Investment Holdings (#EIH) has requested a 10-hectare plot of land in Djibouti to develop a large-scale #fuel storage facility, according to the Djibouti Ports and Free Zones Authority. The request was made during a visit by Meleket Sahlu, Deputy CEO of Ethiopian Investment Holdings, who met with the Chairman of #DPFZA at the Djibouti International Exhibition Center. According to the Authority, EIH “requested a 10-hectare plot of land at the #Damerjog Industrial Park to build a 150,000 cbm fuel storage depot at its first phase,” noting that the site is “strategically located close to the manifold and the railway to ensure efficient logistics connectivity.” The Chairman of DPFZA encouraged the Ethiopian side…… Read more: https://addisstandard.com/?p=55991