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Suez Canal achieves all-time traffic record

According to Xinhua, the traffic transmitting through Suez Canal accomplished an all-time record, as it achieved the highest tonnage per day in the waterway’s history, as Chairman of the Suez Canal Authority Mohab Mamish reported in a statement. 

Egyptian government announces shipping incentives

In line with its policy to achieve pricing flexibility and as part of its vision to sustainability, the Egyptian Government announced a package of incentives and discounts reaching up to 45% on the fees of navigational aids and lighthouses.

Suez Canal achieves second highest daily tonnage ever

Tonnage on the Suez Canal reached the second highest daily record ever traffic ever recorded on May 22. Specifically, 68 vessels carrying a total of 5.5 million tons sailed through the canal, as Suez Canal Authority Chairman Mohab Mamish informed. More specifically, 37 ships transitted the Suez Canal coming from the north, with a weight of 2.8 million tons, while 31 vessels crossed coming from the south with 2.7 million tons.

Egypt plans to increase Suez Canal’s revenues by $1bn

The Suez Canal Authority aims to increase the Suez Canal’s revenues by as much as $1bn, Mohab Mamish, the chairperson of SCA informed. During the first year of its operation the canal achieved revenues worth a total of $600m. In addition to the $600m revenues, approximately 20,000 vessels crossed the canal per year. These ships carried over 1bn tonnes of cargoes.

Suez Canal offers extra discount to dry bulk vessels

The Suez Canal Authority (SCA) has moved towards additional discounts concerning dry bulk vessels operating between American and Asian ports after thinking of new changes in the global shipping market and the global economy.

Suez Canal’s revenues decrease by 8.8% in November

Egypt’s Suez Canal revenues fell in November, down around 8.8 % from October’s revenues as data showed from the cabinet’s website published on January 15. Although the Suez Canal reached the second highest daily traffic ever recorded on January 2 with 72 vessels with an overall tonnage of 5.1 million tons sailed through the canal, the revenues experienced a decrease. 

Suez Canal reports second highest traffic

Traffic on the Suez Canal reached the second highest daily traffic ever recorded on January 2, Suez Canal Authority Chairman Mohab Mamish informed. Specifically, 72 vessels with an overall tonnage of 5.1 million tons sailed through the canal. 33 vessels passed through the canal coming from the north and 39 from the south.

Suez Canal conducts one of the most challenging passages

On Tuesday, December 25, 6 highly trained and well experienced pilots and 5 large tugs of the Suez Canal Authority (SCA) carried out one of the most difficult transits this year as they navigated a giant floating production storage and offloading (FPSO) unit through the canal.

Reduced tolls for Crude Oil Tankers passing Suez Canal

According to a recent circular issued by the Suez Canal Authority, Crude Oil Tankers coming from ports of the US Gulf, Caribbean area and Latin America heading to Asian ports shall be granted reductions in the normal tolls until the end of 2018.

New challenges for VLCC operators in 2018

At the beginning of 2018, new challenges are noted for VLCC owners. Rates are sluggish, with insufficient volumes and an oversupply of tonnage being the main reason. Specifically, the Suezmax market has seen limited action, with Wafr being particularly quiet.

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