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Egypt unveils shipping incentives

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.
world Maritime News

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