Egypt, Jordan, Iraq hail Arab Bridge Maritime’s record $40M profit

Egypt, Jordan and Iraq praised the achievements of the Arab Bridge Maritime Company, which recorded its highest-ever profit, exceeding $40 million through September 30, 2026. The announcement came during the 88th General Assembly meeting of the Arab Bridge Maritime Company, attended by Minister of Transport Kamel El Wazir, Jordanian Transport and Labor Minister Nidal Al-Qatamin, and Hazem Al-Hafathi, representing Iraq’s transport minister. The company’s Director General Adnan Al-Abadleh said its financial and operational indicators reached unprecedented levels during the first nine months of 2026. In addition to record profits, capital, assets, equity and revenues reached historic levels, while the number of trucks transported increased by 15%. Passenger transport also continued to grow, he noted. Abadleh said the strong results would provide a financial and operational base for modernizing the company’s fleet, entering new routes and markets, diversifying revenue sources, and investing in maritime infrastructure and services. The company recently added the passenger and cargo vessel Al Jisr, with capacity for 85 trucks and 254 passengers, and the fast boat Ashur, which can carry 312 passengers, he added. A further passenger and cargo vessel, with capacity for 110 trucks and 253 passengers, is also being added, bringing the company’s fleet to 11 vessels, he noted. The company is also preparing to operate new maritime routes, particularly the Safaga–Duba route, an important link for transporting passengers, trucks and goods between Egypt and Saudi Arabia, he said. For 2027, the Arab Bridge Maritime Company plans to expand its activities beyond maritime transport into infrastructure, maritime services and related industries, Abadleh added. Planned projects include developing and operating a boat maintenance and repair facility in Sharm El-Sheikh and managing and developing the passenger terminal at Aqaba Port in partnership with Aqaba Development Corporation, he noted. The company is also expanding its use of digital technologies to improve operational efficiency and passenger and shipper services, he said. For his part, Wazir said the company’s results reflect its transition toward broader fleet modernization and activity diversification, in line with Egypt’s vision for developing maritime transport. He said the addition of larger vessels would improve the frequency and regularity of voyages and enhance the transportation of passengers and trucks. Wazir also welcomed preparations to operate the Safaga–Duba route, saying it would strengthen Safaga Port’s role in trade with Saudi Arabia and the region. He affirmed the transport ministry’s support for the company’s plans to operate additional routes serving international trade. Jordan’s Transport and Labor Minister Nidal Al-Qatamin said the company’s results demonstrate the ability of the joint Arab venture to achieve sustainable growth and investment. Iraq’s representative Hazem Al-Hafathi likewise highlighted the company’s fleet modernization and expansion of routes, saying these developments strengthen its role in connecting the Arab Levant with North Africa.