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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- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
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Engine: 3.5-litre V6
Transmission: eight-speed automatic
Power: 290hp
Torque: 340Nm
Price: Dh155,800
On sale: now
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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.
Profile Idealz
Company: Idealz
Founded: January 2018
Based: Dubai
Sector: E-commerce
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Investors: Co-founders and Venture Partners (9 per cent)
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Dr Ayham Ammora, scientist and business executive
Ali Azeem, business leader
Tony Booth, professor of education
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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)
Power: 333hp, 449hp, 680hp
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Price: Exact regional pricing TBA
Explained
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Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
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Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, Leon.
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
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Company Profile
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
On sale: Now
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Company profile
Name: Tharb
Started: December 2016
Founder: Eisa Alsubousi
Based: Abu Dhabi
Sector: Luxury leather goods
Initial investment: Dh150,000 from personal savings
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- Flexible payment plans from developers
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- DLD registration fee can be paid through banks or credit cards at zero interest rates
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