Suez Canal hikes transit fee
Port Said: The Suez Canal Authority has decided to increase transit fees for ships using the international waterway by an average of 3 percent next year, the Authority's Chairperson said.

Adm. Ahmed Aly Fadel said the increase will be effective from February 1 and will cover all kinds of vessels using the canal, one of the major routes used by international shipping.

In a statement, Fadel said the authority will continue offering discounts for twin haul oil tankers, ships using environment friendly fuel and passenger cruise ships.

The canal, one of Egypt's main foreign currency earners, is expected to make nearly $ 3 billion (euro2.26 billion) for 2004, an annual record. (AP)
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