Suez Canal cuts VLCC tolls

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The Suez Canal Authority has reduced transit tolls for VLCCs sailing in ballast from America and heading for the Arabian Gulf, according to GAC Egypt.

 

According to a circular released by the Suez Canal Authority, the vessels originating from the Gulf of Mexico, the Caribbean and the North Coast of South America would receive a 45% reduction from the applicable Suez Canal transit tolls, excluding other services dues.

In order to receive the reduction, a company will have to submit a request before the transit through its agency, subject to forwarding a certificate from the port of origin and a certificate from the port of arrival after transit.

Furthermore, in case of a vessel calling between the port of origin and the destination, a certificate stating the reason for the call is to be submitted, as well as an undertaking from the shipping agency confirming the payment of the whole transit dues without any rebates in case of changing port of origin or port of arrival.

The documents should be submitted a maximum of 60 days from the date of transit, GAC Egypt added.

According to the Suez Canal, the circular came into effect on 24^th July for an experimental period.