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- In a significant development, Egypt yesterday (Tuesday) increased transit fees for ships passing through the Suez Canal
- It is reported that the increase would be up to 10%
- The Suez Canal Authority said on its website that the increases were in line with the significant growth in world trade
- Transit fees for ships carrying liquefied petroleum gas, chemicals and other liquid bulk products have increased by 10%.
In a significant development, Egypt yesterday (Tuesday) increased transit fees for ships passing through the Suez Canal. It is reported that the increase would be up to 10%.
The Suez Canal Authority said on its website that the increases were in line with the significant growth in world trade. It also mentioned in the communique the development and improvement of the transit service of the canal. Transit fees for ships carrying liquefied petroleum gas, chemicals and other liquid bulk products have increased by 10%.
Vessels carrying vehicles, natural gas and general cargo, as well as multipurpose vessels, will see a 7% increase. The increase for oil tankers and dry bulk vessels will be 5%. The statement also maintained that the canal authorities would revise or cancel the rates depending on developments in global shipping.
The canal authorities have been working to widen and deepen the southern part of the waterway About 10% of world trade, including 7% of oil, passes through the Suez Canal. Number of ships that passed through the canal last year was 20,649. It was a10% increase on the 18,830 ships in 2020 and its revenue reached US$6.3 billion in 2021, the highest figure in its history.
Last month, 1,713 ships passed through the waterway, bringing in $545 million in revenue. In February last year, 1,532 ships passed through the canal, earning US$474 million.
