Shipping lines ask for cheaper fees to return to East Port Said Port

Shipping lines that have withdrawn from East Port Said Port since 2017 have asked for a new fixed-fees system for 3-5 years to compete with alternative ports, Suez Canal Container Terminal CEO Lars Christensen said, according to Al Mal. Suez Canal Container Terminal (SCCT), which is majority-owned by Maersk subsidiary APM Terminals, has been making losses of USD 1 mn a month since the beginning of the year as it struggles to compete with cheaper alternatives, including Greece’s Port of Piraeus whose fees are 60% cheaper. SCCT’s profits were halved last year, forcing the company to lay-off 400 employees, Christensen said. Sixteen major shipping lines have stopped docking at the port due to the high fees.