Egypt reduced the fee For some ships crossing the Suez Canalseeking to boost the rejuvenation of the basic world trade after Donald Trump’s agreement to suspend the attacks of Yemen’s fighters on Red Sea shipping.
Container ships with a net capacity of at least 130,000 tonnes, loaded or gaps, will be able to pay 15% less their fees for a period of 90 days, the Suez Canal Authority said Tuesday (13.5.2025). This move, which will be in force on Thursday, May 15, aims to encourage shipping companies resume to use the canal, given the “relative stability” in the Red Sea region, the Authority said in a statement.
The restoration of traffic flows on the shortest route between Asia and Europe is crucial to Egypt, whose floating road revenue has been reduced more than half in the middle of two years of conflict in the Middle East. President Abdel Fatah El Sisi in December calculated the losses of about $ 7 billion.
The Iranian -backed Houthi fighters in Yemen had targeted ships south of the Red Sea since the end of 2023 in solidarity with the Palestinian militant organization Hamas, as it fights against Israel in Gaza. This has forced many world shipping companies, including AP Moller-Maersk A/S and Hapag-Lloyd AG, to avoid the canal.
Trump announced last week that he would order the interruption of US bombings against Houthi, after they have agreed to stop attacking US warships and merchant ships. Houthis appeared to confirm the agreement reached by Oman’s mediation, although they made it clear that the aggression against the US Israel’s ally will continue.