Suez beefs up transit discounts to head off Panama
Tuesday, June 7, 2016
The Suez Canal has extended and deepened discounts to container lines traveling to and from the U.S. East Coast and Asia in an attempt to blunt the Panama Canal's ability to handle larger vessels by the end of month and offer carriers shorter transit distances amid rising bunker fuel prices.
The Suez Canal Authority extended the discount past the original end-date of Sunday to Sept. 3, and said it could lengthen them further.
Source: Journal of Commerce