Suez Canal Cuts Yacht Transit Fees by Up to 50% To Boost Tourism
Egypt’s Suez Canal Authority (SCA) announced on Saturday that it will reduce transit and mooring fees for yachts by 20-50%, effective November 1, to boost yacht tourism in the Red Sea region. The move is part of a broader strategy to develop marine tourism and encourage more vessels to pass through the canal. Yachts with a tonnage of 300 or below will receive a 20% discount on return transit fees if they re-cross the Suez Canal within 60 days of their initial trip. Additionally, yachts staying more than 90 days at the Ismailia marina will be granted a 20% discount on their next journey. Mooring fees at Port Said or Suez yacht marinas will also be reduced by 50% for timely arrivals, provided the yachts do not stay overnight or use additional services.
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SCA Chairman Osama Rabie revealed that the canal’s revenues have fallen by 60% in 2024, with a 49% decrease in ship traffic. Rabie attributed these challenges to the ongoing Gaza conflict and attacks on Red Sea vessels by Yemen’s Houthi group, pushing shippers to seek alternative routes.
The Suez Canal, a key source of foreign currency for Egypt, plays a vital role in the country’s economy, which continues to face significant challenges.
