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The Suez Canal Authority has extended the discount offered to dry bulk vessels back in April 2017 until the end of 2018.

Specifically, a 75 percent rebate of the canal transit tolls is being offered to laden or ballast dry bulk vessels coming or heading to ports at South West, South and East of Australia.

The toll cut relates to bulkers starting their voyage at Geraldton port at the South West of Australia and ending at Cairns port at the East of Australia as well as ships heading to or coming from ports at North West Europe starting at Cadiz port and its northern ports.

As disclosed, this periodical takes effect as of January 1 and lasts until December 31, 2018.

The discount is being offered as the canal authority works to attract more ships to transit the waterway.

2017 was a good year for the Suez Canal as higher traffic in the waterway brought about a 5.6 percent revenue increase, totaling in USD 5.3 billion.

The navigation traffic was up by 4.6 percent while net tonnage marked an increase of 7.1 percent when compared to the corresponding figures from 2016.