The Suez Canal Authority in Egypt announced Monday that starting next month, canal charges for laden and ballast vessels will be increased by up to 10% as reported by Splash 247.
Growth in global trade
Justifying the increase, the Suez Canal Authority said the decision was “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”.
Following the grounding of the Ever Given containership last year, the canal has begun a multi-million dollar expansion development for its southern waterway.
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Source: Splash 247
