STORY: Egypt to raise Suez Canal transit fees by 5-15 pct in 2024
DATELINE: Oct. 18, 2023
LENGTH: 0:00:50
LOCATION: Cairo
CATEGORY: ECONOMY

SHOTLIST:
1. various of the Suez Canal

STORYLINE:

Egypt plans to raise transit fees for ships passing through the Suez Canal by 5 to 15 percent starting on Jan. 15, 2024, according to a statement released by the Suez Canal Authority (SCA) on Monday.
   
Transit fees for crude oil tankers, petroleum product tankers, liquified petroleum gas carriers, liquefied natural gas carriers, chemical tankers and other liquid bulk tankers, containerships, vehicles carriers, cruise ships, and special floating units will rise by 15 percent, it said.
   
Meanwhile, transit fees for dry bulk vessels, general cargo vessels, and roll-on/roll-off vessels will increase by five percent, according to the statement.
   
It added that the new transit fee increases did not apply to containerships departing from ports in northwestern Europe and sailing directly to ports in the Far East.
   
The SCA's statistics showed that the canal's revenues hit 9.4 billion U.S. dollars in the fiscal Year 2022-2023 which ended in June, up from 7 billion dollars in the previous fiscal Year. 

Xinhua News Agency correspondents reporting from Cairo.
(XHTV)