The war in Syria has made land transportation dangerous, and so increased traffic at Beirut Port. (The Daily Star/Mohammad Azakir)
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For Fouad Bawarshi, Deputy CEO at Gezairi Transport, the secret to a successful shipping business is market diversification.Bawarshi argued that many local shipping companies that have relied on a specific market in the region have lost their businesses and suffered great losses in the past three years, following the deterioration of the security situation in some Arab countries.Former president of the Lebanese Industrialists Association Fadi Abboud has previously complained that land shipping costs, including insurance fees to Saudi Arabia, one of Lebanon's main regional export markets, have almost doubled over the past few years to around $4,000, mainly due to security problems on the export route.The decline in business for land shipping companies has been to the advantage of maritime shipping companies.Zakhour added that maritime shipping cost around 20 percent more than land services.Zakhour argued that despite the higher cost incurred when using maritime transport, industrialists were able to profit from the competition among maritime shipping companies to attract clients.
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