Egypt Raises Tolls for Ships in Suez Canal
The Suez Canal Authority on Monday announced increases in tolls for ships passing through the waterway and predicted a heavy decline in revenues if war erupts in the Persian Gulf.
Suez Canal Authority Chairman Mohammed Ezzat Adel said that toll fees for all vessels, except dry bulk carriers, will increase by 6% in January. The increase for dry bulk carriers will be only 4% due to market slackness, Adel said.
Adel, speaking to reporters on the 121st anniversary of the opening of the Suez Canal and the passage of the 500,000th ship, said he expects the gulf crisis to reduce revenues this year by about 10%.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
