EGYPT's suez Canal will offer a 15 per cent discount for ships with net tonnage of 130,000 tonnes (upwards of 10,000 TEU), Reuters reports.
The canal authority said the initiative was taken to encourage trade back now the security situation has eased with the Houthi ceasefire.
The discounts will be applied from May 15 for 90 days on containerships that meet the standards, whether full or empty, said the Suez Canal Authority.
Revenue from the Suez Canal, a key source of foreign currency for Egypt, plunged to US$880.9 million in the fourth quarter of last year from $2.4 billion a year earlier, following attacks on shipping by Yemen's Houthis in the Red Sea and Bab Al-Mandab Strait.
The Iran-backed Houthi insurgents say they are trying to shut off cargo bound for Israel in support of Palestinians in Gaza, but they are also chasing ships away from the canal.
Last week, Suez Canal Authority chief Osama Rabie met with representatives from shipping agencies who called for temporary incentives that would help offset increased insurance costs for vessels operating in the Red Sea, which they deemed a high-risk zone.
SeaNews Turkey
The canal authority said the initiative was taken to encourage trade back now the security situation has eased with the Houthi ceasefire.
The discounts will be applied from May 15 for 90 days on containerships that meet the standards, whether full or empty, said the Suez Canal Authority.
Revenue from the Suez Canal, a key source of foreign currency for Egypt, plunged to US$880.9 million in the fourth quarter of last year from $2.4 billion a year earlier, following attacks on shipping by Yemen's Houthis in the Red Sea and Bab Al-Mandab Strait.
The Iran-backed Houthi insurgents say they are trying to shut off cargo bound for Israel in support of Palestinians in Gaza, but they are also chasing ships away from the canal.
Last week, Suez Canal Authority chief Osama Rabie met with representatives from shipping agencies who called for temporary incentives that would help offset increased insurance costs for vessels operating in the Red Sea, which they deemed a high-risk zone.
SeaNews Turkey
