Suez Canal Authority to increase transit fees by 5-15 percent starting mid-Jan 2024
Egypt's Suez Canal Authority (SCA) announced an increase in transit fees by 5-15 percent starting as of 15 January 2024, according to a statement by the authority on Monday.
A 15 percent increase in transit fees will be applied on crude oil tankers, liquefied petroleum gas (LPG) and liquefied natural gas (LNG) tankers, and passenger-car ships.
A five percent increase will be applied on dry bulk ships, general cargo ships, and roll-on/roll-off ships.
The SCA will exclude from the increase the container ships coming directly from northwest European ports and heading directly to Far Eastern ports.
Increases in transit fees are typically based on factors such as fuel prices, ship volume, and provided services, Chairman of the SCA Osama Rabie stated in June.
In January, the SCA raised transit fees by 15 percent for all vessels and 10 percent for dry bulk and cruise ships.
During FY2022/23, Suez Canal revenues surged by 25.2 percent on a year-on-year basis to record $8.8 billion due to a 17.6 percent increase in the number of vessels passing through the canal in the same year, reaching about 26,000 vessels.
