Suez Canal Authority finalizes to extend discounts on shipping services

  • June 18, 2024
  • News

The Suez Canal Authority has declared the continuation of discounted rates for a variety of vessels until year-end, aiming to enhance maritime commerce and endorse the Suez Canal as an essential navigational channel.

The authority’s announcement detailed that the concessions would persist for both laden and unladen dry bulk cargo ships voyaging between Australian ports and those in northwestern Europe, starting from CADIZ port and heading north. The discount program also includes vessels travelling between the eastern Americas, Brazilian ports, and those in Asia.

Moreover, the Suez Canal Authority is set to prolong the discounts for dry bulk cargo ships on routes between Mauritanian ports and those in the Arabian Gulf, India, and the Far East, in both directions. These strategic discounts are designed to stimulate shipping along these routes, thereby improving the efficiency and competitive edge of maritime transport services.

By extending these discounts, the Suez Canal Authority reaffirms its dedication to bolstering international trade and economic expansion through the facilitation of maritime logistics. The financial incentives are part of a broader effort to sustain the canal’s appeal and promote its higher usage among shipping companies connecting major global trading centres.