Suez Canal Authority to Hike Transit Fees

The Suez Canal Authority (SCA) announced it will increase the transit fees for vessels passing through the Suez Canal starting May 1.

SCA announced it will increase the transit fees for petroleum, crude oil, and product tankers to 15 percent from the current 5 percent fee. 

The surcharge for liquid bulk tankers, including chemical tankers, will increase from 10 percent to 20 percent, while ballast and laden dry bulk carriers’ surcharge will increase to 10 percent. Ballast and crude oil tankers have to pay 5 percent surcharge of the usual transit fee.

SCA said that the transit fee amendment has been decided in line with the “significant growth in global trade, the improvement of ships’ economics, the Suez Canal waterway development and the enhancement of the transit service.” SCA added that the transit increase is temporary and can be either amended or canceled.

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