Suez Canal “not for sale”

These considerations arise amidst a significant decline in revenue, attributed to shipping companies bypassing the Canal due to attacks by Houthi militants.

The Suez Canal Authority (SCA) will raise fees for ships transiting the canal by up to 15% from 15 January 2024.

Wilhelmsen Ships Service (WSS) has established a dedicated local transit team to help its customers negotiate the Suez Canal and the rebate system designed to boost traffic through the recently expanded waterway

The Suez Canal is continuing to lose business to the Cape of Good Hope route. The Suez Canal Authority (SCA) lost out to the longer route when Somali piracy was at its peak, but, although that problem has now been brought under control, lower bunker prices have made the longer route via South Africa more attractive for backhaul cargo.

In a bid to hold onto its Asia/East Coast North America container business, some of which was transferred by carriers from the Panama Canal over the past two/three years, the Suez Canal Authority (SCA) has cut its tariffs and introduced a number of incentives.

The Suez Canal Authority has agreed to build a side channel to allow vessels to access East Port Said port independently of Suez Canal convoys