Suez Canal Authority Chairman Osama Rabie said that the 90-day reduction in transit fees was a well-considered and long-planned decision.
He indicated that they were waiting for the opportune moment for the reduction to have a significant impact, adding that he had met with all maritime agents and major companies to coordinate their return to transiting the Suez Canal.
During a phone-in interview on the “Yahdoth Fi Masr” (Happening in Egypt) program with journalist Sherif Amer, Rabie said that Evergreen and Maersk have begun organizing their schedules to resume sailing through the Suez Canal.
He expects that all major shipping companies will return to navigating the Suez Canal once the situation in the Red Sea calms down.
The current crisis facing the Suez Canal is more challenging than the COVID-19 pandemic, he added.
He explained, “This period is longer, and we have lost $10.5 billion in a year and a half, which is a significant amount and has affected the Authority, morale, and everything else. During the COVID crisis, we did not incur losses, and we also implemented significant discounts.”
The fee reductions aim to incentivize companies to resume Suez Canal transits, a move that was universally welcomed, he said.
“We expect a return to navigation within a month, and more than one agency has started moving vessels, and ships are passing after the situation in the Red Sea has calmed down.”
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