The Suez Canal Authority (SCA) has decided to reduce by 20 to 45 percent the transit fees of dry bulk ships operating between Egyptian ports on the Red Sea and harbors in South West Africa.
The transit fees of vessels coming from the ports of Ghana, Togo, Benin, and Nigeria will witness a 20 percent decrease, said the SCA in a statement issued on Monday.
While ships coming from the ports of Cameron and its south will get a 45 percent reduction in the Suez Canal transit fees, added the statement.
The SCA’s decision will go into effect as of November 1, 2023 and will run until June 30, 2024, it said.
In order to obtain such cuts, the SCA revealed several conditions, including that the operating company must submit a request through the shipping agency before vessels sail from their ports of departure.
The companies are expected to also specify the port of departure, the date of sailing, the port of arrival, the expected time of the ship’s arrival at the canal, the condition of the ship ( loaded/empty) and the type and quantity of the shipments, it noted.