Egypt decided to increase the transit fees for ships in the Suez Canal between 5% and 15%, starting from mid-January.
The Suez Canal Authority (SCA) explained on its website that it was decided to increase the regular transit fees by 5% for dry bulk cargo ships, general cargo, and ro-ro ships.
While an increase of 15% was decided for crude oil tankers, tankers of petroleum derivatives and LNG, tankers of chemicals and other liquid materials, container ships, vehicle carriers, passenger ships, and special floating units.
According to the authority, all container ships coming directly from northwestern European ports and heading directly to Far Eastern ports will be exempt from the targeted increase.
Egypt expects Suez Canal revenues to reach $10.3 billion in 2023, up from $8 billion last year. These expectations exceed those of the International Monetary Fund (IMF), which estimates that canal revenues will reach $9 billion in 2027.
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