VOL. XXXVIII

NO. 50

11-SEPTEMBER-1995

Egypt

Suez Canal To Cut Tanker Rates Next Month

The Suez Canal Authority (SCA) is likely to cut transit fees for Suezmax oiltankers (160,000-170,000 dwt) early next month to beat off competition fromalternative routes, SCA Chairman Muhammad 'Izzat 'Adil said on 4 September. Heindicated that SCA directors would meet towards the end of the month to discussthe discount and would probably make an announcement by early October. "Theamount of the reduction is not...