Seeking to encourage major shipping lines to return to the international waterway amid improved security conditions in the Red Sea, the Suez Canal Authority (SCA) announced on a 15-percent discount on transit fees for large container ships as of Thursday of this week.
SCA Chairman Osama Rabie said the discount will apply to container ships with a net tonnage of 130,000 tonnes or more, whether they are laden or empty, and will be valid for 90 days
Mr. Rabie underlined the authority’s ongoing efforts “to keep pace with the rapid changes in the maritime transport industry and to respond flexibly to current challenges in the Red Sea region.”
About 12% of the world trade volume passes through the strategic waterway. But due especially to Houthi attacks in the Red Sea, the canal’s revenues fell by 61% in 2024 — to US$3.9 billion from over $10 billion in 2023.
(SCA photo of Suez Canal)