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Turkey hikes up passage fees through its straits almost fivefold: Report

The passage fee hike came shortly after the straits of Turkey became the epicentre of global attention as ships carrying tonnes of Ukrainian grain sailed through them

Topics
Turkey | Ukraine | transport

IANS  |  Ankara 



Essar Shipping to scale up third-party cargo
The passage fee hike came shortly after the straits of Turkey became the epicentre of global attention as ships carrying tonnes of Ukrainian grain sailed through them.

has introduced a nearly fivefold hike in fees for passage through its straits, which connect the Mediterranean and the Black Sea, local media reported.

Citing officials from the Ministry of and Infrastructure, the Sabah daily said on Monday that the new passage toll will be effective from October 7, reports Xinhua news agency.

The passage fee increased from around $0.8 dollars to $4 per tonne, it added, noting that annual revenues are expected to rise to $200 million, compared to the current 40 million generated from some 40,000 passages per year.

Following the rights provided by the Montreux Convention, has the right to charge ships passing through its straits, the Bosphorus and the Dardanelles, for service costs, including lighthouses, emergency preparations, and medical services.

Straits of present a shorter cargo route for big volumes of goods transferred through the regions.

Crossing through Turkey's largest city Istanbul, the Bosphorus Strait represents a challenging voyage as an almost 30 kilometres long route with a width of about 700 meters at its choke points.

Another strait, the Dardanelles in the Canakkale province is twice the length.

The passage fee hike came shortly after the straits of Turkey became the epicentre of global attention as ships carrying tonnes of Ukrainian grain sailed through them.

--IANS

ksk/

 

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


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First Published: Tue, August 30 2022. 13:50 IST

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