Suez Canal cuts VLCC fees in half to keep owners keen

Egypt's Suez Canal Authority (SCA) is slashing fees for VLCCs and ULCCs in a bid to keep business in the continuing pandemic.

SCA said it is "paying more attention to its users' best interest" in taking steps towards being the safest, most secure, most reliable and most competitive route for shipping.

A new circular reveals laden VLCCs and ULCCs of more than 250,000 dwt will benefit from a 48% rebate on usual tolls.