Egypt: Suez Canal Authority decides to increase vessel transit fees by 15%

18 September, 2022
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Egypt: Suez Canal Authority decides to increase vessel transit fees by 15%

The Egyptian Suez Canal Authority decided to increase the transit fees for all types of ships transiting the canal by 15%, except for dry bulk vessels and cruise ships, which will increase by 10%, starting from the beginning of 2023.


 “The transit fees for all types of ships transiting the canal will increase by 15% during the year 2023, while the transit fees for both dry bulk vessels and cruise ships will increase by 10%, provided that the implementation of the planned increase will start at the beginning of January early next year,” announced the President Authority Osama Rabie, in a statement.


 "The decision comes in light of the continuous follow-up to developments in the market changes in the maritime transport sector, which monitors the continuation of the rise in the daily time charter categories for most types of ships to unprecedented levels and expectations of their continuation during the next year," Rabea added.


 "Determining the fees for the transit of ships through the Suez Canal depends on several factors, the most prominent of which is the average prices of the two freight forwarders for the various categories of ships," he pointed out.


And he indicated that the increase is "a necessity in light of the current global inflation rates rising to more than 8%, which leads to an increase in operating and maintenance costs and the provision of navigational services in the canal."


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