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Suez Canal offers 45% discounts for giant oil tankers en route to Arab Gulf

Egypt's Suez Canal Authority offered up to 45 per cent discount to Very Large Crude Carriers (VLCC) oil tankers en route from the United States to Arab Gulf countries through the canal.

The authority said in a bulletin published on its website that the reductions apply on transit tolls only, and not on other service charges and are granted to ships coming from the Gulf of Mexico, the Caribbean region and the northern coast of South America

The publication which was distributed to Suez Canal clients and global navigation companies noted that shipping companies that wish to take advantage of the discounts should provide a certificate from the port of origin, another certificate from the destination port, in addition to an undertaking to pay transit fees in full without any reduction if changes are made to the port of origin or destination.

The Suez Canal administration said that the offer came into force on 24 July for a period of 60 days as a renewable trial period.

In June, the Suez Canal Authority announced discount offers at rates ranging between 45 to 65 per cent for container ships sailing from ports on the East coast of the United States on their way to ports in South and South East Asia.

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