Egypt's Suez Canal mulls discounts on transit fees to bring back traffic
Egypt's Suez Canal Authority chief, Osama Rabie, says the authority is considering offering discounts ranging from 12% to 15% on transit fees to help restore traffic in the strategic waterway reeling from attacks by Yemen's Houthis on Red Sea shipping.
Rabie told privately owned Sada al-Balad television channel in a phone interview that the discounts could be applied within days after a ratification by Egyptian President Abdel Fattah al-Sisi.
He spoke after revenue from the canal continued to plunge on the back of attacks on shipping by Yemen's Houthis, who say they are trying to shut off cargo bound for Israel in support of Palestinians in Gaza, but who are also chasing ships away from the canal.
Revenue from the Suez Canal, a key source of foreign currency for Egypt, plummeted to $880.9m (R16.11bn) in the fourth quarter from $2.40bn (R43.90bn) a year earlier, the victim of Houthi attacks, central bank figures showed earlier this month.
Last week Rabie met with representatives from shipping agencies who called for temporary incentives that would help offset increased insurance costs for vessels operating in the Red Sea, which they deemed a high-risk zone.
The meeting followed an Oman-mediated ceasefire between the US and the Houthis, under which the US agreed to stop bombing the Houthis in Yemen in return for the group agreeing to stop attacking US ships. The accord with the Iran-backed group does not include Israel
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The South African Jewish Board of Deputies (SAJBD) criticised the government's decision to take Israel to the ICJ, accusing it of failing 'to play a role in engaging with both sides' of the conflict. The SAJBD said it 'mourns the loss of innocent life on both sides of the current Israel–Hamas conflict'. The use of the words 'war' and 'conflict' in reference to Gaza obscure a number of historical facts, beyond the reality that this is a one-sided annihilation of the Palestinians by Israel. The number of dead Palestinians, predominantly women and children, speaks volumes. Nonetheless, the SAJBD holds the view that the government is biased in its approach, stating, 'We urged our government to play a role in talking to both sides, and in using their influence to ensure Hamas releases the hostages, following their deadly raid on Israel on 7 October'. 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ACDP leader Kenneth Meshoe argued that, instead of taking Israel to the UN's top court for genocide crimes, SA could have mediated to convince Hamas to release the hostages captured during the October 7 raid in Israel. Meshoe also questioned the validity of the government's case, claiming, 'We also do not believe that the South African government will be able to prove that Israel has the necessary genocidal intent against the Palestinian people as required by the genocide convention'. The opposition by the ACDP and other obscure black organisations to the government's decision to take Israel to the ICJ reflects a painful reality that, in every society and struggle, there are collaborators, those whose minds have been so deeply infiltrated by the enemy's propaganda that they often adopt positions more radical than the oppressor's. This phenomenon speaks to the psychological scars of colonialism, as Fanon articulated. 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While the TRC, for instance, marked a significant step towards reconciliation, it also revealed the complexities of forgiveness in the immediate aftermath of deep-seated trauma. Critical conversations about justice were ignited, just like the accountability and the collective responsibility to build a more equitable and inclusive future. While celebrating SA's principled stance, we must honour the strength and courage of those who spoke out, even as we confront the ongoing challenges in the pursuit of genuine justice. The ICJ case serves as a reminder that the journey towards truth and reconciliation demands commitment and vigilance; this is the basis upon which a nation liberated from the shadows of its painful past may be constructed. This cannot happen in isolation but requires dedication to international solidarity premised on a genuine commitment to global peace and justice. This is the only way to guarantee that such atrocities do not recur. However, if we fail to counter imperialism, the driving force behind racial capitalism and other injustices, our efforts are unlikely to succeed. It is this very commitment that underpins SA's unwavering support for the Palestinian struggle.
