The Suez Canal Authority is reportedly cutting its transit fees – by as much as 50% for vessels over 3,330 TEUs – from October 1. That is designed to tackle competition from the widened Panama Canal. While traffic through Suez climbed for a fifth straight month, by 2.6%, in July it has lost ground to Panama. That growth came after Suez already applied discounts, yet on a capacity-adjusted basis Panama traffic rose 28% in July. The diversion effect may be slowing, however, based on recent Asia-U.S. traffic patterns.