[Super Channel "Price Increase"] The Suez Canal will increase ship tolls again, with an increase of 15%
Source: admin Time: 2022-09-22
The Suez Canal Authority (SCA) issued another statement on the 17th saying that it wouldFrom January 2023, tolls for ships passing through the Suez Canal will be increased.
The statement said that except for dry bulk carriers and cruise ships, where tolls will increase by 10%, tolls for all other types of ships will increase by 15%.
In response to the fee increase, Osama Rabie, Chairman and Managing Director of the Suez Canal Authority, said that the Suez Canal's flexible pricing strategy was determined by real-time changes in the global economy.
"The increase in tolls is due to the fact that the Suez Canal Authority has been following the latest changes in the shipping market, and daily charter rates for most types of vessels have continued to rise to unprecedented levels. We predict that this increase will continue next year," Rabie said.
Rabie said that determining the Suez Canal toll depends on many factors, the most important of which is the average freight rates for various types of ships. During the worst period of the epidemic, freight rates for container ships soared, and tolls for container ships have risen sharply over the past year.
Rabie added that rising energy prices and global inflation rates have had an impact on the toll formula. These factors increase the cost of operating and navigation services provided by the canal.
The Suez Canal Authority estimates thatIts annual revenue will increase by $700 million when new tolls take effect next year.In July, the Suez Canal Authority reported record revenues of $7 billion for the 2021-2022 fiscal year (July 2021-June 2022), attributing it to a series of fee increases during the period.
The Suez Canal Authority has raised toll surcharges twice since the beginning of the year, in February and March, citing growth in global trade.
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