• Short Summary

    Toll rates for the Suez Canal are to be virtually doubled when it re-opens on June 5 compared with those charged when it closed in June 1967 during the war with Israel.

  • Description

    Toll rates for the Suez Canal are to be virtually doubled when it re-opens on June 5 compared with those charged when it closed in June 1967 during the war with Israel.

    The Chairman of the Canal Authority, mr. Mashour Ahmed Mashour, told newsmen in Cairo on Saturday (24 May) that increases for various types of shipping would be between 90 and 100 per cent.

    Even so, he added, this would represent a substantial saving on the cost of shipping by the long route around the southern tip of Africa.

    The new rates were set in special drawing rights -- the artificial currency created by the International Monetary Fund -- which have the advantage of not advantage of not being subject to currency fluctuations.

    The rates work out to about one U.S. dollar (about 44 pence) per ton of cargo for oil tankers, slightly more for other freight. Unloaded vessels will pay at a lower rate.

  • Tags

  • Data

    Film ID:
    VLVA7YMLULI5Q7F48BIENFBCJ4YOC
    Media URN:
    VLVA7YMLULI5Q7F48BIENFBCJ4YOC
    Group:
    Reuters - Incuding Visnews
    Archive:
    Reuters
    Issue Date:
    25/05/1975
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:01:36:00
    Time in/Out:
    /
    Canister:
    N/A

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