Shipping companies are expected to resume transiting the Suez Canal within at least a month to allow time for schedule adjustments, Osama Rabie, Chairman of the Suez Canal Authority (SCA) said on May 16.

In an interview with MBC Masr, Rabie explained that coordination with the shipping companies regarding their return is underway. He added that a 15% discount on transit fees for three months would incentivise companies to return to using the canal.

A few days ago, the SCA authority announced a 90-day 15% discount on transit fees for container ships with a net tonnage of 130,000 tonnes or more, whether laden or empty, to help restore traffic in the strategic waterway.

Rabie confirmed that Evergreen has expressed readiness to resume transits through the Suez Canal. Maersk is still reviewing its shipping schedules before making a decision.

According to Al Mal, Rabie said almost all global shipping companies have welcomed the recent calm in the Red Sea and the agreement between the US and the Houthis to halt targeting vessels. He asked the companies why they were reluctant, given that the last missile attack by the Houthis occurred on December 2, 2024.

Rabie mentioned that the war in Gaza has had a severe impact on the canal, causing the authority to lose around $10.5bn in just a year and a half. He noted that the Red Sea route has faced several serious challenges, including increased shipping costs and longer transit times.

According to Daily News Egypt, a few days ago, Rabie met with a senior delegation from Maersk, led by Camilla Jane Holtz, Vice President for Public Policy and Regulatory Affairs, to discuss resuming the transits.

The Suez Canal, along with tourism and remittances from Egyptians working abroad, is a major source of foreign income for Egypt.