Increase by 3 % in the Suez Canal Fees
Posted: 20 April 2005
Head of Suez Canal, Field Marshal Ahamd Ali Fhadl, announced recently that the board of the Canal will begin within days in applying new fees for transiting through the Suez Canal. The new increase will be of 3 %.
The board of the Suez Canal took this action for the first time since 9 years after the boom experienced nowadays by the global trade traffic. "The decision of increasing the fees comes after an extensive study to the global trade traffic, the volume of the cargo transported and exchanged between the different marketplaces, the economical factors affecting the volume of the financial transactions, the maritime transport market and the costs of using the alternative routes instead of the Suez Canal", Fhadl said. "The Suez Canal realized standard revenues during 2004 for the first time since its inauguration in 1869, amounting $ 3.87 billion against $ 2.607 billion in 2003", he added. Though the new increase, Fhadl explained, the Suez Canal will remain the cheapest and safest sea route all over the world.
It is noteworthy that the board of the Canal has fixed the fess during the last nine years as a result of the recession that hit both of the global trade and the maritime transport market.
"The Canal will continue in offering the discounts previously given to the vessels of the liquefied gas, the long-route ships and the environment-friendly ships. The schemes given to the empty oil tankers of 200 thousand ton and more, coming from Caribbean Sea and the ports of the northern coasts of South America, will be modified from 55 % to 45 % in addition to canceling the additional discounts given to the crude oil tankers", Fhadl added.
Posted by Editor Offshore Arabia Magazine
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