Suez Canal studies reducing transit fees for green ships

CAIRO - 16 January 2022: The Suez Canal Authority is considering granting reductions in transit fees ranging between 10, 15 and 20 percent for ships that comply with environmental standards, according to head of the authority, Osama Rabie.

"This is in addition to a program of points and financial and non-financial incentives, which creates an image of a green channel that preserves the environment," he added during the Suez Canal event held at the "Expo 2020" Dubai, Sunday.

The Suez Canal intends to adopt new work mechanisms and controls during this year, which support the preservation of the environment by reducing carbon emissions by adopting some new measures, including: studying the provision of incentives for environmentally friendly ships, and examining ways to use renewable energy in operating monitoring stations and a number of marine units, through which the canal can be a green one. 

He clarified that the canal achieved the highest annual revenue in the history of the canal amounting to $6.3 billion, and the largest annual net tonnages of 1.27 billion tons, exceeding all the numbers that were recorded before.

The Suez Canal granted a discount on the transit fees of liquefied gas tankers from January 1 to June 30, and the reduction rates range from 30 to 70 percent for ships operating between the American Gulf and a number of Asian ports.

The navigation movement in the Suez Canal witnessed a disruption for nearly a week at the end of last March as a result of the delinquency of the container ship EVER GIVEN, which caused confusion in the global trade movement.