Egypt raises transit fees for ships using the Suez Canal, its only stable revenue earner and a...

|By:, SA News Editor

Egypt raises transit fees for ships using the Suez Canal, its only stable revenue earner and a vital energy waterway. The military appears to be keeping the canal open; any closure would force ships to divert around the Cape of Good Hope, adding 15 days to an average journey. Egypt also is the world’s largest importer of grain, which it uses to provide subsidized bread to its population. This feels like a country on the brink.