Panama rejects price war with Suez

The Panama Canal will not raise tolls despite its primary competitor, the Suez Canal, reportedly slashing its fees by more than half, according to Jorge Luis Quijano, chief of the Panama Canal Authority.

““When we were about to launch our expansion, Suez began with a 35 percent discount. Later, they raised the discount to 50 percent and the latest is they've lowered prices by as much as 65 percent,” he said. “We're not going to enter a price war.”

Source: American Shipper