New Discounts Announced for Container Ships Transiting the Suez Canal

by Ship & Bunker News Team
Tuesday June 7, 2016

The Suez Canal Authority (SCA) Monday announced a new discounts for container ships transiting the Suez Canal.

The SCA says a 45 percent discount off normal Suez Canal tolls will be given to container ships coming from Port of Norfolk and its northern ports heading to the ports of Port Kelang and its eastern ports.

Container ships traveling from ports south of Norfolk to Port Kelang and its eastern ports, will be eligible for a 65 percent from the Suez Canal normal toll rates.

As well, SCA says container ships coming from ports south of Port of Norfolk bound for the Port of Colombo and its eastern ports will be given a 55 percent discount off normal tolls.

The discounts come at a time when low bunker prices are reported to be pushing some vessels to save money by diverting via the Cape of Good Hope and avoiding the Canal - a situation SCA has sought to downplay.

In fact overall, Mohab Mameesh, chairman of the SCA, says the canal's revenues have grown despite slowing global trade, having reached $1.239 billion during 2016's first quarter, a slight increase from $1.236 billion during the same period of 2015.

In April, SCA announced that it had reduced tolls for container ships traveling the Suez Canal from the port of New York and its southern ports, heading to the Port Kelang and its eastern ports, by 30 percent for the period of March 7th to June 5th 2016.