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No Suez Canal Toll Cuts Despite Falling Transit: Platts

FREIGHT

Egypt’s Suez Canal plans no reduction in general transit feed to attract more traffic flows, Inchcape Shipping Services said Jan. 30, cited by Platts.

  • This is despite many ship operators diverting away from the key waterway, Platts added.
  • "During the meeting, it was unanimously agreed that the crisis is primarily political in nature, requiring a political solution to restore normal operations as soon as possible," Inchcape said.
  • "Reducing transit fees or offering rebates was deemed ineffective at this stage due to the perceived high risk in the Red Sea,” Inchcape added.
  • It was suggested however, that reductions could be considered for special clients on a case-by-case basis.
  • The seven-day average for Suez daily transits was 41 on Jan. 28, compared to 74 on Nov. 1, Platts said citing IMF Portwatch.
  • The canal authority also raised transit hikes by 15% for oil, LPG, and LNG tankers as of Jan. 15
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