Suez Canal Offers Shipping Discount Amid Industry Uncertainty – Famagusta Gazette

Suez Canal Offers Shipping Discount Amid Industry Uncertainty – Famagusta Gazette

FAMAGUSTA GAZETTE- The Suez Canal Authority has introduced a 15% discount for large container ships for 90 days, aiming to restore confidence in the world’s busiest shipping lane after a sharp revenue decline in 2024. The incentive, effective May 15, applies to ships exceeding 130,000 tons. Canal revenues plunged 60% in 2024, falling from a record $10.3 billion in 2023 to $4 billion, as many shipping companies opted for longer routes via the Cap…

Suez Canal offers 15% discount to cargo ships - Maritime Gateway

Egypt’s Suez Canal Authority (SCA) is offering a 15 per cent discount from May 15 on transit fee to cargo ships of minimum 130,000 mt capacity, underscoring the impact that the Red Sea security crisis has had on the waterway critical to the shortest maritime route to the Mediterranean Sea and beyond from the Arab Peninsula, North-East Africa, and the Arabian Sea. “The SCA has issued incentives and reductions of 15 per cent on the transit tolls o…