No. 6



Suez Canal Cuts 1996 Crude Tanker Tolls By Up To 20%

The Suez Canal Authority (SCA) has cut its 1996 transit tolls for crude oil tankers by up to 20%, SCA Chairman Muhammad 'Izzat 'Adil said on 1 November. The reduced tolls, which will take effect from 1 January 1996, will apply to crude oil tankers whether loaded or in ballast. The SCA is also imposing a maximum toll of 330,000 Special Drawing Rights (SDR, about $514,635 at the rate of...