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Hike in Suez Canal fee may not impact Indian exports
31
May '13
The 2-5 percent increase in fees for the ships passing through the Suez Canal may not have a significant impact on the shipping line services and Indian exports since it is the most viable option for ships sailing from the country.
 
Speaking to fibre2fashion, senior director of marketing and sales at DHL Global – one of the global marketing leader in the logistic industry, Mr. Sandeep Pingle said, “For ships sailing from India, a routing via Suez Canal for movements to Europe and the Mediterranean region is still the most viable option rather than sailing via the Cape of Good Hope, owing to increased bunker costs.” 
 
“Therefore even with the 5 percent increase in toll, we do not see this having a significant impact on the shipping line services via the Suez Canal,” he adds.
 
DHL Global Forwarding handles in excess of 2.7 million TEU - twenty-foot container equivalent unit - a measure used in container shipping - annually, across all continents with a large footprint being routed through the Suez Canal.
 
The Egyptian Suez Canal Authority increased the fees paid by the ships passing through the canal by 2-5 percent earlier this month.
 
The main objective of increasing the Suez Canal fees was to boost the revenue of the country since Egypt’s economy is affected by the political turmoil last year. 
 

Fibre2fashion News Desk - India

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