Egypt's Suez Canal cuts transit, mooring fees for Red Sea yachts

CAIRO, Oct. 12 (Xinhua) -- Egypt's Suez Canal Authority (SCA) announced Saturday a 20-50 percent reduction in transit and mooring fees for yachts in the Red Sea, effective on Nov. 1.

"The move is part of the SCA's flexible marketing policies to encourage yacht tourism and develop marine tourism in the Red Sea region by providing facilities and incentives for yachts crossing the canal," the SCA said in a statemen