The Suez Canal Authority (SCA) has decided to extend discounts regarding oil tankers to another year due to the recent developments of the shipping industry and the global economy.
SCA’s decision ultimately aims to encourage more ships to transit the Suez Canal. Suez Canal Authority issued circular no. (1/2018) on 9 January 2018, concerning “Crude Oil” tankers (Laden or Ballast), coming from ports of the US Gulf, Caribbean area and Latin America heading to Asian ports. This circular shall remain in force till the 31st of December 2019 after amending previous paragraphs to read as follows:
1. Crude oil tankers (laden or ballast) coming from (or heading to) ports of the US Gulf, Caribbean area heading to (or coming from):
- Ports West of Indian subcontinent (starting from Karachi till Cochin) shall be granted a reduction of 50% of the Suez Canal normal tolls.
- Ports located East of Cochin port shall be granted a reduction of 75% of Suez Canal normal tolls.
2. Crude oil tankers (laden or ballast) coming from (or heading to) ports of Latin America Starting from Colombia (San Andres Island- Latitude 12o 34′ 40” N) and its southern ports heading to (or coming from) the Asian ports starting from Karachi port and its eastern ports shall be granted a reduction of 75% of Suez Canal normal tolls.
This periodical shall be applicable to crude oil tankers (laden or ballast) sailing from “origin ports” from the 1st of January 2019 till the 31st of December 2019.
