Fares of the Suez Canal without change in 1998
Egypt, Business, 1/2/1998

The Suez Canal Authority (SCA) decided to keep the fares imposed on ships passing through the canal unchanged in 1998. The SCA will also offer more facilities for crude oil tankers.

The director of the SCA, Ahmed Fadel, said that the SCA will not hesitate to reduce the fares imposed on Qatari liquefied gas on the condition that this comes within feasibility studies of reduced fares for both.

Fadel said that canal revenues decreased by about $60 million from $1.882 billion to $1.822 billion in 1997. He attributed this to a decrease in revenues from the towing service by about 5.7%, even though the volume of cargo increased by about 3%.

The SCA decided to cancel the additional fares which are about 6% that had been imposed on empty tankers. The SCA also canceled additional fares imposed on empty ships carrying small boats and reduced fares imposed on empty gas tankers which travel south to north by about 35%.

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