Suez Canal yacht transit fees are to be cut by up to 50% in a bid to promote yacht tourism and develop marine tourism in the Red Sea region.
The move by the Suez Canal Authority is part of a series of measures and incentives and will take effect from November 1 2024.
Yachts with a gross tonnage of 300 tons or more will have the option to join a direct convoy of ships, as well as the opportunity for direct transit without waiting at the anchorage in the Great Lakes area, in line with current regulations.
“The new circular also indicates that yachts with a gross tonnage of less than 300 tons will receive a 20% discount on transit fees on the return voyage if they return from the Red Sea to the Mediterranean within 60 days of their outbound voyage,” said the SCA in a statement.
Transit fees
The SCA added that the new facilitations include a 20% discount on transit fees for yachts that undergo wintering in the Ismailia Yacht Marina for more than 90 days.
The discount will be applied to the voyage during which the wintering occurred.
Yachts under 300 tons that arrive at a suitable time for transit at the Authority’s marinas in Port Said or Suez will be given a 50% discount on berthing fees if they don’t stay overnight or use any services such as electricity or water.
The number of ships passing through the Suez Canal has decreased by 49% since the start of 2024 with revenues dropping by 60% due to challenges in the Red Sea region with the ongoing Gaza conflict and attacks on Red Sea vessels by Yemen’s Houthi group, pushing shippers to seek alternative routes.
The Suez Canal is a key source of foreign currency for Egypt.
