Middle East Economic Survey


No 51/52



Suez Canal To Hike Transit Fees From February

The Suez Canal Authority (SCA) announced on 14 December that it would be raising its transit fees for vessels using the canal from February 2005, the first rise in rates for three years. The rise will be applied to all types of vessel, with the SCA also lowering the incentive discounts on offer to very large crude carriers (VLCC) traffic from the Gulf of Mexico and the Caribbean....