CAIRO—Egypt said on Saturday 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 Saturday 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.
The authority’s chief, Osama Rabie, said the hikes, which will take effect on Jan. 1, are “inevitable and a necessity.” He blamed booming global inflation rates, which have increased the cost of the waterway’s operations, maintenance, and maritime services….