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RIYADH: Egypt’s international trade route, the Suez Canal, has raised the transit fees for ships by 5 to 10 percent as of March 1, according to a statement by the waterway’s authority.

The 10 percent increase is applied to liquefied petroleum gas, chemical tankers and other liquid bulk tankers, while ships carrying vehicles, natural gas and general cargo will see a rise of 7 percent, while oil and crude tankers will climb by 5 percent. 

The decision came in line with the significant growth in global trade as the canal seeks to develop and enhance its transit service, the statement said. 

Separately, the Suez Canal recorded a crossing of 1,713 ships during February, with loads of 100 million tons, the chairman and managing director of the authority, Osama Rabie, said.  

The Canal saw a 15 percent increase in its revenues during February 2022, recording $545 million, up from $474 million in the same period last year.