Egypt to Up Transit Fees at Suez Canal
Egypt's Suez Canal Authority announced March 1 that it will increase transit fees by up to 10% for ships passing through the key trade route. Transit fees for liquid petroleum gas, chemical tankers and other liquid bulk tankers will rise…
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10%, Bloomberg reported. Ships carrying vehicles, natural gas and general cargo along with multipurpose vessels will have their transit fees increased by 7%, and oil and crude tankers and dry bulk carriers will see a 5% fee increase, the SCA said. The changes come amid a "significant growth in global trade" and the canal's "development and enhancement of the transit service." The increases could be later revised or shed completely, based on the state of global shipping, Bloomberg reported.