Egypt's Suez Canal to raise transit fees in 2023

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Egypt's Suez Canal to raise transit fees in 2023

STORY: Egypt's Suez Canal to raise transit fees in 2023 DATELINE: Sept. 18, 2022 LENGTH: 00:01:08 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. Suez Canal Authority (SCA) Chairperson Ossama Rabiee speaking 2. various of vessels crossing the Suez Canal STORYLINE: The Suez Canal's transit tolls will increase by 15 percent for all types of vessels and 10 percent for dry bulk and cruise ships starting next year, the Suez Canal Authority (SCA) announced in a statement on Saturday. The authority said rising energy prices, freight rates, and daily charter rates for ships, predicted to continue next year, are the main reason for raising transit tolls along the vital canal connecting the Mediterranean Sea to the Red Sea. "The (tolls) increase is inevitable and is a necessity in light of the current global inflation, which translates into increased operational costs and the costs of the navigational services provided in the canal," SCA Chairman Ossama Rabiee said in the statement. He said the SCA adjusted the to

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