Suez Canal Authority to Raise Transit Fees

On 17 September, the Suez Canal Authority announced an increase in passage taxes for all types of vessels transiting the canal in 2023. It will amount to 15% for bulk carriers and tourist ships will be raised by 10%.

The fee increase will be applied starting Jan. 1, 2023.

In justifying the fee hike, Osama Rabie, Suez Canal Authority’s Chairman and Managing Director said that the rising energy prices and global inflation rates have hd an impact on the equation of tolls calculation. These factors have increased the operational costs and costs of the navigational services provided by the canal.

In March 2022, the passage taxes, which had not been increased for three years, were raised by 3%.

These additional fees are likely to affect the cost of goods for shippers, which will be reflected in consumer prices.