Cairo, March 2 (SocialNews.XYZ) Egypt's Suez Canal Authority (SCA) announced on Tuesday an increase in the transit toll by up to 10 per cent for laden and ballast vessels.
The decision, which was made in line with a significant growth in global trade, waterway development, and transit service enhancement, took effect on March 1, the SCA said in a statement, Xinhua news agency reported.
This is the second toll increase in two months.
On February 1, the SCA raised its transit toll by six per cent for vessels travelling through the waterway, except for the tourist ships and the Liquified Natural Gas (LNG) carriers.
"The new increase is subject to continuous evaluation based on the changes of the marine transit market," the statement added.
Linking the Mediterranean Sea with the Red Sea, the Suez Canal was officially opened for international navigation in 1869, serving as a lifeline for global seaborne trade. Around 12 per cent of the world's trade passes through the canal.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz