Suez Canal – increase in transit fees

On October 16th, the Suez Canal Authority (SCA) announced, via a circular, an increase in transit fees for most ships, ranging between 5% and 15%. This new pricing will take effect from January 15th, 2024. However, container ships traveling from ports in northwest Europe and Tangier to the Far East and Southeast Asia will not be subject to this increase.

An additional 15% will be charged to crude and product oil tankers, gas carriers, LNG carriers, chemical carriers, other tanker vessels, car carriers, cruise ships, special floating units, and container ships that do not meet the mentioned exceptions. On the other hand, bulk carriers, general cargo ships, ro-ro vessels, and others not included in the earlier categories will face a 5% increase in their fees when transiting the Canal.

Notably, during the fiscal year 2022/2023, the SCA recorded record revenues of $9.4 billion, a significant jump compared to the $7 billion in the previous fiscal year.