Suez Canal :Increased Transit Fees
Cash-strapped Egypt has increased transit fees for ships passing through the Suez Canal with hikes of up to 10%.
- The Suez Canal is an artificial sea-level waterway running north to south across the Isthmus of Suez in Egypt, to connect the Mediterranean Sea and the Red Sea.
- The canal separates the African continent from Asia.
- It provides the shortest maritime route between Europe and the lands lying around the Indian and western Pacific oceans.
- It is one of the world’s most heavily used shipping lanes, carrying over 12% of world trade by volume.