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Panama Canal chief says "no priice war" with Suez

Friday, September 9, 2016


The Panama Canal aims to remain competitive but will not raise tolls or engage in the "price war" that Egypt's Suez Canal has apparently launched by offering discounts of up to 65 percent, the administrator of the Central American waterway said Thursday.

"When we were about to launch our expansion (on June 26), Suez began with a 35 percent discount. Later, they raised the discount to 50 percent and the latest is they've lowered prices by as much as 65 percent. We're not going to enter a price war," Jorge Luis Quijano said.

Source: Efe