Egypt will lower tolls for natural gas tankers crossing the Suez Canal by between 5 percent and 15 percent Al-Mal newspaper reported, citing the canal authority.
The larger the tanker, the greater the reduction, the authority indicated.
"We had previously indicated that the Canal Authority will use discounts and incentives to attract more traffic to the canal, instead of cutting its transit fees," Beltone Financial said in a comment.
The authority held transit fees steady in 2010, in reaction to the global crisis.
"We expect that as the traffic in the canal increases, as evident from data since quarter two of 2009, the canal could opt to raise transit fees by a small increment, leading to total revenues of $5 billion in fiscal year 2010/2010, compared to our expectation of $4.7 billion in fiscal year 2009/2010."
© Daily News Egypt 2010
