Egypt's Suez canal to increase tolls by up to 10%
The Suez Canal Authority will increase tolls for laden and ballast vessels transiting the key waterway by 5%-10% from March 1, it said late on Feb. 27.
The hike was made "in line with the significant growth in global trade, the improvement of ships' economics, the Suez Canal waterway development and the enhancement of the transit service," the SCA said in a circular.
Crude and refined product tankers will see a 5% rise on normal transit dues, while LNG carriers will see a 7% hike. The smaller size LPG and chemical tankers will see a 10% rise.
The SCA is also currently trying to expand parts of the Suez Canal and is targeting completion by 2023. Plans include extending the second channel of the canal and to enlarge an existing section near the Great Bitter Lake, where the Ever Given container ship ran aground and blocked the waterway for almost a week in March last year.
