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Indiaexportnews.com

Suez Canal tolls to rise by 2-2.6% for oil tankers starting May 1

  17.02.2014    

Tolls at Egypt's Suez Canal will rise for the third straight year - this time by as much as 2.6% - for all vessels, including crude oil and refined product tankers, the canal authority said in a circular this week.
Mohamed Mahmoud Beshir, director of transit with the authority, said in a statement that the higher fees would go into effect on May 1.
Tolls will rise from 2% to 2.6% depending on the size on the tanker.
According to data from the authority, toll fees or transit dues for a Suezmax carrying a crude oil cargo of up to 130,000 mt will rise 2.3%.
For an Aframax crude oil tanker, which can carry a cargo of 70,000-80,000 mt, toll fees will be rise by close to 2%.
Toll fees for a clean tanker carrying a cargo of up to 120,000 mt will rise by up to 2.6%, according to data from the circular.
Last year, the toll fees for oil tankers rose between 2.5% and 5%.
The Suez Canal, which connects the Mediterranean with the Red Sea and is one of the world's most heavily used shipping lanes, is one of Egypt's largest sources of revenue.
Traffic volumes through the 163 km (101-mile) canal is seen as an indicator of the state of health of maritime trade worldwide.



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