SUEZ CANAL-

The SCA is hiking transit fees next year: Starting 15 January 2024, the Suez Canal Authority (SCA) will hike transit fees by 15% for a number of different vessel types including oil tankers, LNG and LPG carriers, and container ships, the SCA said in a statement (pdf) on Monday. The SCA will also increase transit fees by 5% for dry bulk vessels, general cargo ships, and ro-ro vessels on the same date, the statement added

But there are exceptions: Container ships heading to the Far East from Northwest Europe will be fully exempt from any additional fees.

DATA POINT-Suez Canal revenues on track for a new record high: Suez Canal revenues are expected to hit a record USD 10.3 bn by the end of 2023, Ittihadiyastated on Monday, citing a report from the SCA. This would be a 36% increase from the USD 8 bn received in 2022.

FINANCIAL SERVICES-

FRA releases mortality data to help better price life ins. policies: The Financial Regulatory Authority (FRA) has developed and published its first set of mortality data — known in the business as actuarial life tables — to be used for pricing ins. life products, the regulator said Monday.

Up until now, we’d been using 50+-year-old data: Previously, insurers priced life products using British actuarial tables that dated back to 1967. The new compiled data will reflect the reality of the country’s population and help companies price their policies more realistically and efficiently, the regulator said.

Tags: