Feeder vessels carrying Egyptian imports get discount rate

Wednesday, 25 September 2019

The Suez Canal Authority (SCA) will extend feeder vessels, with a load capacity of 5,000 tonnes, a discount of up to 30 percent on the charges paid to the authority, which is valid for six months, Daily News Egypt reported.

The authority, however, has restricted the discount to vessels that transport and move containers between Egyptian ports only, and that the load on vessels is to comprise entirely Egyptian imports.

In its daily market report, Beltone Financial said the new regulation “aims at increasing and encouraging import activities by lowering the associated costs of transportation for importers.”

The move will also contribute to increasing the physical traffic activity in the canal, Beltone said.