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Canal in dry bulk deal

The Suez Canal Authority (ACP) is offering a rebate on passage for dry bulk vessels until the end of this year as a trial.

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Vessels travelling from Australia to Europe are to be given a 75% rebate; those sailing from South Africa to the Mediterranean and the Black Sea a 40% discount.

The Canal must balance its tolls with the cost of vessels taking the more circuitous route around the Cape of Good Hope. Other rebates for VLCCs and container vessels travelling between the North American eastern seaboard and Asian ports are also on offer.

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