Suez Canal to raise fees by about 2.8 percent

The Suez Canal Authority will raise fees on passing ships in April by an average of 2.8 percent, adding roughly $150 million to revenues this year, a canal official said on Monday. The official, who asked not to be named, said the canal authority decided to levy the higher fees in 2007 on all vessel types.
"Economic feasibility studies ... on the global shipping market demonstrate the new increases will not affect the numbers of ships crossing the Suez Canal or lead to shipping companies taking alternative routes," he said.
Egypt's annual revenues from the Suez Canal reached a record $3.8 billion in 2006. The Suez Canal saw 8.2 percent of global trade traffic in 2006, compared to 7.4 percent in the previous year, the official said.