Egypt raises transit fees for ships passing through Suez Canal

An army zodiac secures the entrance of a new section of the Suez Canal in Ismailia, Egypt (Amr Nabil/AP)

Cash-strapped Egypt increased transit fees for ships passing through the Suez Canal, one of the world’s most crucial waterways, with hikes of up to 10%, officials said.

The Suez Canal Authority said on its website the increases were “in line with the significant growth in global trade” and cited the canal’s “development and enhancement of the transit service”.