Transit fees for oil tankers passing through Egypt’s Suez Canal will rise by 15 per cent from mid-January. Reuters
Transit fees for oil tankers passing through Egypt’s Suez Canal will rise by 15 per cent from mid-January. Reuters
Transit fees for oil tankers passing through Egypt’s Suez Canal will rise by 15 per cent from mid-January. Reuters
Transit fees for oil tankers passing through Egypt’s Suez Canal will rise by 15 per cent from mid-January. Reuters

Suez Canal Authority to increase transit fees from next year


Kamal Tabikha
  • English
  • Arabic

Transit fees for oil tankers and several other types of vessel passing through Egypt’s Suez Canal will rise by as much as 15 per cent from mid-January, the waterway’s authority said on Tuesday.

The increase will apply to crude oil tankers, petroleum derivative carriers, liquefied natural gas carriers and liquefied petroleum gas, container ships and passenger ships, the authority said in a statement.

A 5 per cent increase will be levied on dry bulk carriers and roll-on/roll-off vessels.

Ships heading from ports in Northwestern Europe to destinations in the Far East are exempt from the latest increase.

The Suez Canal is one of the world's busiest waterways and the shortest shipping route between Europe and Asia. About 12 per cent of the world's trade moves through the canal.

Its revenue is a main source of foreign currency for Egypt, along with remittances of Egyptian expatriates and tourism.

Revenue from the Suez Canal reached record $9.4 billion during 2022, up 34.7 per cent from the previous year, state news agency Wam reported on Tuesday.

Osama Rabie, chairman of the Suez Canal Authority, said it is estimated to climb $10.3 billion by the end of 2023, according to Wam.

A total of 26,000 ships passed through the canal during the last fiscal year, up 17.6 per cent on an annual basis.

The canal’s authority raised transit fees by 10 per cent last year. In February this year, it again increased transit fees paid by crude oil and petroleum product tankers from 15 per cent to 25 per cent, which came into effect on April 1.

An ambitious expansion plan for the 193-kilometre waterway was announced by the authority in 2021.

Essentials

The flights
Emirates flies direct from Dubai to Seattle from Dh6,755 return in economy and Dh24,775 in business class.
The cruise
UnCruise Adventures offers a variety of small-ship cruises in Alaska and around the world. A 14-day Alaska’s Inside Passage and San Juans Cruise from Seattle to Juneau or reverse costs from $4,695 (Dh17,246), including accommodation, food and most activities. Trips in 2019 start in April and run until September. 
 

Ferrari 12Cilindri specs

Engine: naturally aspirated 6.5-liter V12

Power: 819hp

Torque: 678Nm at 7,250rpm

Price: From Dh1,700,000

Available: Now

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    Always check the weather forecast before setting off Make sure you have plenty of water Set off early to avoid sudden weather changes in the afternoon Wear appropriate clothing and footwear Take your litter home with you
The White Lotus: Season three

Creator: Mike White

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Rating: 4.5/5

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  • Power: 640hp
  • Torque: 760nm
  • On sale: 2026
  • Price: Not announced yet
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COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3EElmawkaa%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Hub71%2C%20Abu%20Dhabi%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Ebrahem%20Anwar%2C%20Mahmoud%20Habib%20and%20Mohamed%20Thabet%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20PropTech%3Cbr%3E%3Cstrong%3ETotal%20funding%3A%3C%2Fstrong%3E%20%24400%2C000%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3E500%20Startups%2C%20Flat6Labs%20and%20angel%20investors%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%2012%3Cbr%3E%3C%2Fp%3E%0A

Engine: 3.5-litre V6

Transmission: eight-speed automatic

Power: 290hp

Torque: 340Nm

Price: Dh155,800

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ESSENTIALS

The flights

Emirates flies from Dubai to Phnom Penh via Yangon from Dh2,700 return including taxes. Cambodia Bayon Airlines and Cambodia Angkor Air offer return flights from Phnom Penh to Siem Reap from Dh250 return including taxes. The flight takes about 45 minutes.

The hotels

Rooms at the Raffles Le Royal in Phnom Penh cost from $225 (Dh826) per night including taxes. Rooms at the Grand Hotel d'Angkor cost from $261 (Dh960) per night including taxes.

The tours

A cyclo architecture tour of Phnom Penh costs from $20 (Dh75) per person for about three hours, with Khmer Architecture Tours. Tailor-made tours of all of Cambodia, or sites like Angkor alone, can be arranged by About Asia Travel. Emirates Holidays also offers packages. 

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Company: Idealz

Founded: January 2018

Based: Dubai

Sector: E-commerce

Size: (employees): 22

Investors: Co-founders and Venture Partners (9 per cent)

The candidates

Dr Ayham Ammora, scientist and business executive

Ali Azeem, business leader

Tony Booth, professor of education

Lord Browne, former BP chief executive

Dr Mohamed El-Erian, economist

Professor Wyn Evans, astrophysicist

Dr Mark Mann, scientist

Gina MIller, anti-Brexit campaigner

Lord Smith, former Cabinet minister

Sandi Toksvig, broadcaster

 

Volvo ES90 Specs

Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)

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Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry 

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Gulf Under 19s final

Dubai College A 50-12 Dubai College B

Specs

Engine: Dual-motor all-wheel-drive electric

Range: Up to 610km

Power: 905hp

Torque: 985Nm

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Group D: Flamengo, ES Tunis, Chelsea, Leon.

Group E: River Plate, Urawa, Monterrey, Inter Milan.

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Group G: Manchester City, Wydad, Al Ain, Juventus.

Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.

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Name: JustClean

Based: Kuwait with offices in other GCC countries

Launch year: 2016

Number of employees: 130

Sector: online laundry service

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Lexus LX700h specs

Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor

Power: 464hp at 5,200rpm

Torque: 790Nm from 2,000-3,600rpm

Transmission: 10-speed auto

Fuel consumption: 11.7L/100km

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Company profile

Name: Tharb

Started: December 2016

Founder: Eisa Alsubousi

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Sector: Luxury leather goods

Initial investment: Dh150,000 from personal savings

 

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  • Priority access to new homes from participating developers
  • Discounts on sales price of off-plan units
  • Flexible payment plans from developers
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Updated: October 17, 2023, 1:39 PM`