Egypt’s Suez Canal Authority (SCA) has hiked transit fees by 5-10% “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.”

Circulars posted on the authority’s website on 27 February announced the hikes that will see crude and oil product tankers see their transit fees increase 5%. LNG tankers will see a 7% increase while LPG carriers as well as chemical tankers and other liquid bulk tankers will see the maximum 10% hike. General cargo vessels will see a 7% rise, the SCA says. (CONTINUED - 158 WORDS)