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Monday, 22 October 2018

Suez Canal Authority drops fees on port of East Port Said

The Suez Canal Authority reduced transit and mooring fees on cargo ships docking and transiting through the port of East Port Said, in a bid to draw more shipping to the port. Ocean Alliance — which includes CMA CGM Group, APL, Evergreen, and China’s COSCO Shipping — had decided to suspend operations at East Port Said in August due to high costs. An alliance made up of Yang Ming, Hapag-Lloyd, K Line, Mitsui O.S.K. Lines, and the NYK Group had retired from East Port Said last year after the government decided to raise fees by nearly 100%. Egypt has been offering discounts and other incentives to attract more traffic to its ports, with President Abdel Fattah El Sisi suggesting that port fees would be reduced to make them competitive.

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