Wednesday 21 November 2018

Egypt plans to rework toll for vessels

CAIRO, October 27, 2016

Egypt is discussing with global shipping firms plans to rework the way it charges vessels to pass through the Suez Canal, offering discounts for advance payments as it seeks to raise much-needed hard currency from a struggling industry, said a report.

Denmark’s AP Moller-Maersk, which runs the world’s biggest container shipping line, noted that it was considering proposals from the Suez Canal Authority for a new toll system, added the Reuters report.

The Suez Canal is one of the main sources of foreign currency for a country that has struggled to overcome a crippling dollar shortage since an uprising in 2011 caused an exodus of foreign investors and tourists.

Tags: | Egypt | Suez Canal | Toll | vessels | rework |

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