How expensive is the Suez Canal?
The Suez Canal will become more expensive next year, with the Suez Canal Authority (SCA) in Egypt raising its transit tolls by 15% for all types of ship as from January 2023. Only bulk carriers and cruise ships will pay just 10% more than in 2022.
This increase follows a 6% tariff uptick in February this year, the introduction of a 5-10% surcharge in March and the revision of surcharges on a range of 7-20% in May.
As a justification for this policy, Admiral Ossama Rabiee, president and general director of the SCA, pointed out that, with the current rate of inflation and the continued hike in crude oil and LNG prices, the transit through the Suez Canal offers shipowners greater savings than alternative routes.
The International Chamber of Shipping has responded by asking the SCA for more explanations on the mechanism for calculating tolls.
According to latest figures, revenues from the Suez Canal will reach USD 7 billion in the 2021-22 fiscal year, an increase of 27% from the previous record year's USD 5.5 billion. (sh)