Suez Canal Authority

Egypt has said that it will increase transit fees for vessels, including oil-laden tankers, passing through Suez Canal, one of the world's most crucial waterways.

The Suez Canal Authority said in a statement on Sept. 17 that it will add 15 percent to the fees for tankers carrying oil and petroleum products, and 10 percent for dry bulk carriers and cruise ships.

Egypt's Suez Canal Authority announced yesterday an all-time revenue record, earning $7 billion during the last fiscal year following a series of toll hikes for vessels transiting the vital waterway.    

Between July 2021 and June 2022 - Egypt's fiscal year - some 1.32 billion tons of cargo were shipped through the canal, Suez Canal Authority (SCA) chief Osama Rabie said.    

The megaship which blocked Egypt's Suez Canal and crippled world trade for nearly a week has been "seized" on court orders until the vessel's owners pay $900 million, canal authorities said on April 13.

Salvage teams on March 29 set free a colossal container ship that has halted global trade through the Suez Canal, bringing an end to a crisis that for nearly a week had clogged one of the world's most vital maritime arteries.

Egypt on August 6 inaugurates a "new Suez Canal" waterway touted as an achievement rivalling the digging of the original, as it seeks to boost both its economy and international standing.