Egypt is planning to raise transit fees for ships passing through the Suez Canal by 15 percent next year, the canal authority’s chairman Osama Rabie said.
The authority said it will add 15 percent to the fees for tankers carrying oil and petroleum products, while a 10 percent hike will be imposed for bulk and tourist ships.
Rabie said the fee increase, which will take effect from January 1 2023, is “inevitable and a necessity,” amid rising global inflation rates.
Suez Canal is a major source of income for Egypt, and is a critical waterway for global trade. About 10 percent of international trade, including 7 percent of the world’s oil passes through the Suez Canal.
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