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Thursday, 17 August 2017

Government announces incentives for shipping companies

Ship lines get port fee break as gov’t looks to restore competitiveness: The Ismail government will be providing shipping companies with breaks on Suez Canal port fees as high as 50%. The reduced pricing will be proportionate to the volume of cargo shipped by the lines, Transport Minister Hisham Arafat and the Suez Canal Authority (SCA) head Mohab Mamish announced in a press conference on Wednesday, according to AMAY. The government has also apparently set a unified payment structure for port fees throughout the Suez Canal. The move is meant to win back shipping lines that left East Port Said port in March to protest a 150% hike in fees.

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