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Cash-strapped Egypt hikes Suez Canal transit fees for ships

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KMIZ

CAIRO (AP) β€” Cash-strapped Egypt has increased transit fees for ships passing through the Suez Canal, one of the world’s most crucial waterways. Authorities say the new fees β€” some including hikes of up to 10% β€” have started on Tuesday. A statement says the hikes are β€œin line with the significant growth in global trade” and also cites the canal’s β€œdevelopment and enhancement of the transit service.” Canal authorities have been working to widen and deepen the waterway’s southern part, where a hulking vessel ran aground and closed off the canal in March 2021.Β 

Article Topic Follows: AP National Business

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