Starting January 1st, 2023, ships passing through the Suez Canal can expect to see at least a 10% in fees.
Ships passing through the Suez Canal, one of the world’s most crucial waterways, will witness a hike in transit fees starting January 1st, 2023. The increases include a 15% increase in fees for vessels carrying oil and petroleum products and a 10% increase for dry bulk carriers and cruise ships.
The changes, according to the Suez Canal Authority chief Osama Rabie, are necessary for surviving the recent global inflation that has significantly shot up the cost of maintenance and maritime operations.
On top of that, current operations to widen and deepen the southern area of the canal to prevent the recurrence of blockages by aground vessels are well underway.