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Egypt’s Suez Canal Authority announces a 15% increase in transit fees for large vessels like oil tankers, cargo container ships, and passenger ships starting January 15. This hike will affect tankers transporting petroleum products, liquefied petroleum, liquefied gas, and chemicals. Meanwhile, toll rates for dry bulk cargo and roll-on-roll-off vessels will see a modest 5% rise. Recognized as one of the most trafficked waterways globally and a pivotal shipping link between Europe and Asia, the Suez Canal plays a significant role in Egypt’s economy. It contributed a staggering $2.54 billion to Egypt’s foreign currency reserves in Q2 of 2023. #oil #SuezCanal #inflation #energy #greenenergy #invest #investor
Timestamps:
Price of Oil Could Skyrocket 0:42
Taxing Cheeseburgers? 11:17
Alternative Energy and the Big Changes 11:50
What Can I Do? 13:16
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