In a self-defeating decision Algerian bank association (ABEF) ordered in December a ban of all transactions involving transshipment through Moroccan ports. Few days later, in January, ABEF partly backpedaled on the decision excluding fresh produce and meat, while maintaining the ban of all transactions involving other non-perishable goods. “The decision has plunged the Algerian economy into a crisis with shortages of critical imports, including meat and cereals,” it said. The ban led major shipping lines such as Maersk and CMA and CGM to replace Tanger Med as the transshipment port serving Algerian ports, instead opting for the ports of Algeciras and Valencia. This would eventually impact the prices of key commodities in the Algerian markets,” the Maritime Executive said, citing analysts.
