Suez Canal announces 15% increase in crossing fees by mid-January

The Suez Canal Authority has announced that it will implement a 15 percent increase in regular transit fees on various types of vessels beginning mid-January. The slated increase applies to ships carrying crude oil, petroleum derivatives and liquefied petroleum gas. Notably, the hike includes liquefied natural gas tankers, chemical tankers, container ships, car carriers, passenger ships and special floating units. Furthermore, regular transit fees will also increase by five percent for dry bulk cargo ships, general cargo ships, and other unspecified types. However, container ships that are coming directly from Northwestern European ports and heading to Far Eastern ports are exempt from this increase, per the conditions outlined in Circular # (8/2023). The new stipulations will take effect starting January 15, 2024.