Egypt’s Suez Canal Authority said yesterday it will be increasing canal tolls by up to 10% for laden and ballast vessels from the start of next month.
Justifying the increase, the Suez Canal Authority said the decision was “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 canal has kicked off a significant, multi-million dollar expansion plan for its southern waterway in the wake of last year’s grounding of the Ever Given containership.
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Author : Sam Chambers
