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Egypt's Suez Canal Extends Rebates for LNG, LPG Carriers Until End-2022

Ship Ever Given, one of the world's largest container ships, is seen after it was fully floated in Suez Canal, Egypt March 29, 2021. REUTERS/Mohamed Abd El Ghany
Ship Ever Given, one of the world's largest container ships, is seen after it was fully floated in Suez Canal, Egypt March 29, 2021. REUTERS/Mohamed Abd El Ghany
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Egypt's Suez Canal Extends Rebates for LNG, LPG Carriers Until End-2022

Ship Ever Given, one of the world's largest container ships, is seen after it was fully floated in Suez Canal, Egypt March 29, 2021. REUTERS/Mohamed Abd El Ghany
Ship Ever Given, one of the world's largest container ships, is seen after it was fully floated in Suez Canal, Egypt March 29, 2021. REUTERS/Mohamed Abd El Ghany

Egypt's Suez Canal has extended rebates on canal tolls for liquefied petroleum gas (LPG) and liquefied natural gas (LNG) carriers from July until the end of the year, the canal authority said in circulars published on its website.

LPG tankers operating between the American Gulf and ports west of India, on the Maldives islands and at Kochi will receive a rebate of 20% on the canal's normal tolls, according to the circular.

Those operating from ports east of Kochi to Singapore will receive a rebate of 55%, and from Singapore ports east will have a rebate of 75%, said Reuters.

LNG tankers operating between the American Gulf and the "Arabian Gulf", ports west of India and at Kochi will receive a rebate of 30% on the canal's normal tolls, a circular dated Sunday said.

Meanwhile, LNG tankers operating from ports east of Kochi to Singapore will receive a rebate of 55%, and from Singapore ports east will have a rebate of 70%, it added.

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UK Economy Shrinks 0.1% in May

The Elizabeth Tower commonly known by the name of the clock's bell "Big Ben" is pictured before race boats from the E1 World Championship race across the River Thames, in central London on July 2, 2025. (Photo by Justin TALLIS / AFP)
The Elizabeth Tower commonly known by the name of the clock's bell "Big Ben" is pictured before race boats from the E1 World Championship race across the River Thames, in central London on July 2, 2025. (Photo by Justin TALLIS / AFP)
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UK Economy Shrinks 0.1% in May

The Elizabeth Tower commonly known by the name of the clock's bell "Big Ben" is pictured before race boats from the E1 World Championship race across the River Thames, in central London on July 2, 2025. (Photo by Justin TALLIS / AFP)
The Elizabeth Tower commonly known by the name of the clock's bell "Big Ben" is pictured before race boats from the E1 World Championship race across the River Thames, in central London on July 2, 2025. (Photo by Justin TALLIS / AFP)

Britain's economic output shrank by 0.1% in May, official data showed on Friday.

Economists polled by Reuters had mostly forecast that gross domestic product would rise by 0.1% from April's level.

Britain's economy expanded rapidly in the first quarter of 2025, outstripping growth in other countries in the Group of Seven advanced economies. In May the Bank of England revised up its full-year growth forecast to 1%.

However, much of the growth in early 2025 was likely to have been linked to the expiry of a tax break for some home purchases in April which boosted the sector before the deadline, and a rush by manufacturers to beat higher US import tariffs.

The BoE has said it thinks the economy grew by about 0.25% in the second quarter of 2025.