Egypt Reduces Toll Fees for Cargo Ships Traveling to Asia
Egypt’s Suez Canal Authority temporarily reduced toll rates for container ships traveling to Asia, according to a May 8 report. The reduced fees, which will be in place through June 30, are aimed at bolstering “slumping traffic,” the Hong Kong…
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Trade Development Council said, and feature rebates as high as 75% on toll fees. Egypt hopes the reduced fees will attract ships “amid a growing trend of vessels rerouting via the Cape of Good Hope in southern Africa,” due to lower sea freight demand amid the COVID-19 pandemic, the report said.