Languages: ENNL

Wed 1 May 2013

Egypt's Suez Canal raises shipping fees to boost government's revenues

  • By Maja Micudova and 1 other
  • Last Update: 3 years ago
  • Suez, Muḩāfaz̧at as Suways, Egypt

Suez Canal

wikipedia-public domain

Egypt's Suez Canal Authority raises fees on shipping through the waterway by two to five percent in a bid to boost revenues for the troubled government. 

The rise in tolls comes following the studies into prospects for growth in the world economy and global trade. 

The highest five percent fee rise will apply to tankers carrying oil, petroleum products, liquefied natural gas and chemicals, as well as bulk carriers. Container ships and car transporters face a rise of  two percent, while other ships will pay three percent higher fees.

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