Egypt’s Suez Canal will increase transit tariffs by 6% from February 2022, according to a 4 November report from state news agency Mena quoting Suez Canal Authority (SCA) chairman Osama Rabie. All vessels except cruise ships and LNG will be affected by next year’s 6% tariff hike, he adds.
But it’s not good news for LNG tankers with the Canal from 1 November cutting the discount it offers to LNG tankers to 15% of transit tolls, from 25% previously as it looks to capitalize on buoyant international trade in the supercooled fuel (MEES, 5 November). Extensive delays for LNG tankers at the Panama Canal – a rival route for increasingly-key US Gulf-to-Asia shipments – have no doubt increased the Suez Canal’s relative attractiveness and lessened the need for discounts. The Canal says the decision was taken “in the light of the current situation of international LNG trade.” (CONTINUED - 190 WORDS)