Suez Canal extends discounts for tankers and dry bulk vessels

Discounts for dry bulk and tanker ships in the Suez Canal will be extended to the rest of the year. The discounts are meant to lure ships back to the canal after lower fuel prices have made ships sail the longer route south of Africa.

Photo: Amr Abdallah Dalsh/Reuters/Ritzau Scanpix

The Suez Canal will extend its discounts for dry bulk and tanker ships to the rest of the year, in an attempt to make the ships use the canal rather than sailing south of Africa. The discounts also apply to LNG and LPG ships, according to notices from the Suez Canal Authority.

The Suez Canal has lost millions of dollars on the low price of ship fuel, which has made container lines such as Maersk, MSC and CMA CGM in particular opt for the longer voyage south of Africa when sailing from Europe to Asia. Alphaliner estimated in May that the company behind the canal had at that point lost USD 10 million.

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