Business

Suez Canal To Raise Ship Transit Fees By 15% In January 2023

The Suez Canal Authority (SCA) has announced increases to transit fees from next year. An SCA statement dated 17 September 2022 confirmed that from 1 January 2023 all types of vessels transiting the canal will pay 15% more next year, while dry bulk and cruise ships will pay 10% more. The SCA publishes a number of navigational circulars allowing for amending its pricing policies to provide rebates in the event of any changes in the navigation market. Such rebates may reach 75% of the Canal standard transit tolls for a specific period. In addition, there are rebates granted through the SCA's long haul committee that study each applying vessel's journey. These rebates may reach 74% of the Canal standard transit tolls according to the conditions of the navigation market at the time the client applies for the rebate.