No 12



Suez Canal Sees Strong Volumes Growth In 2003

Total ship tonnage using the Suez Canal rose by 23.5% to 549.4mn net tons in 2003 compared to 444.8mn tons in 2002, according to data published by the Suez Canal Authority (SCA). The rise in canal tonnage reflects the freezing of tariffs in 2003 and the incentives for crude and LNG tankers built into the tariff structure since 2002 (MEES, 6 May 2002 and 5 May 2003). The SCA left transit charges and discounts for...