The Business of Middle East Superyachting

Suez Canal Superyachts

Suez Canal Authority Announce Discounts on Transit and Mooring Fees for Yachts Transiting The Red Sea

The Suez Canal Authority (SCA) announced new discounts on transit and mooring fees for yachts traversing the Red Sea for a limited time in a move to boost marine tourism in Egypt. Starting from November 1st SCA’s new navigation circular (No. 4) of 2024 entails a 20% fee reduction for yachts with a gross tonnage of 300 and below, on the condition that the yacht returns for transit within a 60 day period of their outbound voyage. Yachts that spend time during the winter season in the Ismailia Yacht Marina for over 90 days will receive a 20% discount. This applies to any voyage during which wintering took place, regardless of the direction the passage arrived from.

Moreover, the Suez Canal Authority is incentivizing any vessel that berths at any of the SCA’s marinas in Port Said or Suez or the canal’s entrance with a 50% discount. The circular stipulates that the 50% reduction will be given on the condition that the yacht does not spend the night or request any services (electricity/water/fuel) from the marinas included. 

As for yachts with a gross tonnage of over 300, the SCA introduced a new fast-track option, providing an opportunity for direct transit by eliminating any waiting periods  at the anchorage in the Great Lakes area, in addition to an alternative of “joining the direct convoy of ships.”

This announcement marks the second time the SCA introduced fee reductions this year, previously notifying yacht agents of a  50% reduction of transit fees for vessels under 300 tons passing the canal, this past July. The scheme ran from July 1st – October 1st and aligned with the return of the Egypt International Boat Show, which took place from July 11-14 on Egypt’s north coast at Marassi Bay Marina. 

The Suez Canal Authority issued new reductions in fees to encourage yacht tourism in the area in a bid to boost traffic in the Red Sea following security issues in the area. The re-emergence of Houthi Attacks on commercial shipping vessels continues to affect the maritime industry as a whole, and apprehension preventing any superyacht owner from cruising a high-risk designated area 

In addition, Egypt has transformed the Suez Canal into a tourism-friendly area, as the country prepares to establish the Red Sea as a superyacht destination.