Suez Canal cuts transit fees

The decision is effective as of July 1

  
A ship is seen after sailing through Suez Canal as traffic resumes after a container ship that blocked the waterway was refloated, in Ismailia, Egypt, March 30, 2021.

A ship is seen after sailing through Suez Canal as traffic resumes after a container ship that blocked the waterway was refloated, in Ismailia, Egypt, March 30, 2021.

REUTERS/Hanaa Habib

ArabFinance: The Suez Canal Authority (SCA) decided to slash transit fees for car carriers travelling between Northern Europe and Southeast Asia by 5%, the authority said in a statement on June 22nd.

The decision is effective as of July 1st, as it looks to boost traffic through the critical shipping route.

Furthermore, Container ships and bulk carriers travelling between West Africa and the Far East will get a 75% break as of next month until the end of 2021.

The SCA has also extended lower costs for tankers travelling between the Americas and Southeast Asia to average 15-75% until the end of the running year.

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