Egypt Unveils Shipping Incentives

Egypt shipping incentivesIllustration. Image Courtesy: US Navy

The Egyptian government has announced a new package of incentives and discounts for shipping companies in a bid to ensure the sustainability of shipping lines’ schedules.

Vessels calling at Egyptian ports and transiting Suez Canal can now expect savings reaching up to 45% on the fees of navigational aids and lighthouses.

The new incentives also include the reduction of formalities and paper works in order to facilitate the procedures of transshipment containers and bunkering.

The package will also prevent the duplication between any kind of fees concerning transit toll and any other port dues.

The government said it expects this initiative to have a positive impact on the number of vessels calling at Egyptian ports and transiting Suez Canal.

Coinciding with the announcement on new incentives, Mohab Mamish, the chairman of the Suez Canal Economic Zone (SCZone) development project, said Egypt aimed to increase investments in the project to USD 55 billion in 15 years.

The value of the projects currently under construction is close to USD 20 billion, Mamish added.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Nov 2019 >>
MTWTFSS
28 29 30 31 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 1

Maritime Reconnaissance and Surveillance Technology

As varied threats in the Mediterranean Sea continue to proliferate, the need to advance…

read more >

CrewConnect Global 2019

CrewConnect Global is the leading forum for collaboration to advance new industry approaches to seafarer recruitment and training.

read more >

CruiseConnect Global 2019

Attend CrewConnect Global and stay on for the CruiseConnect Summit to take part in an industry-wide conversation focused…

read more >

CWC World LNG Summit & Awards Evening

The CWC World LNG Summit & Awards Evening will be returning to Rome in 2019 to celebrate it’s 20th year.

read more >