The rebates that are valid for all of 2018 and vary between 45% up to 75% and are designed to encourage more crude tankers to transit the Suez Canal according to a circular from SCA.
For crude tankers, laden or in ballast, bound from the US Gulf and the Caribbean to ports west of the Indian sub-continent starting from Cochin and Karachi there will be a 45% rebate on normal tolls. For crude tankers bound for ports east of Cochin the rebate will be 75%.
For crude tankers coming from Latin America south of San Andreas Island, Colombia there will be a 65% rebate for those bound to ports west of the Indian sub-continent starting from Cochin and Karachi. For those bound for ports east of Cochin there will be a 75% rebate.
To be eligible for the rebate vessels should not call intermediate ports on the voyage. Suez Canal tolls will also need to be paid in full and then the rebate applied for, and it will be refunded once all the documentation has been received.
The SCA has already extended rebates for dry bulk vessels and VLCC tankers for 2018, and rebates for containerships until the end of June 2018.
The SCA introduced discounts to encourage more traffic to use the canal particularly with low fuel prices which mean that combined with slow steaming, the voyage around the Cape can prove more cost effective than using the Suez Canal, as well as competition from the expanded Panama Canal on all water routes between Asia and the US East Coast.
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