The Suez Canal Authority (SCA) has announced a 15% rebate on transit tolls for containerships with a Suez Canal Net Tonnage (SCNT) of 130,000 tons or more, according to the company's release.
According to Circular No. 3/2025, the rebate applies to both laden and ballast containerships transiting in either direction. The measure will be effective from 15 May 2025 for a period of 90 days.
The rebate is calculated based on the standard transit dues plus applicable surcharges for container tiers. It will be granted automatically upon transit without the need for prior requests or documentation.
This initiative follows a significant decline in canal revenue, which dropped from $2.4 billion in Q4 2023 to $880.9 million in Q4 2024, largely due to attacks on shipping by Yemen's Iran-backed Houthi rebels in the Red Sea and Bab Al-Mandab Strait.
These attacks targeted cargo bound for Israel, deterring shipping traffic through the canal by increasing perceived risks.
In response to rising insurance costs and to attract trade back to the canal, SCA chief Osama Rabie met with representatives from shipping agencies to discuss temporary incentives.
The Suez Canal Authority is a state-owned entity responsible for the operation, maintenance, and development of the Suez Canal. It plays a crucial role in global maritime trade, providing a vital link between the Mediterranean Sea and the Red Sea.