Strategic fee changes announced by Suez Canal Authority to boost competitiveness

CAIRO – 17 October 2023: The Suez Canal Authority has recently announced an increase in the regular crossing fees by 15 percent for specific vessel categories, as part of their ongoing strategy to enhance canal operations and services.

The newly approved rate hikes are targeted towards several vessel types.

This increase impacts carriers of crude oil, petroleum derivatives, liquefied petroleum gas (LPG), liquefied natural gas (LNG), chemical and other liquid cargo ships, container ships, car carriers, passenger ships, and specialized floating units.

In addition to these adjustments, the Suez Canal Authority, as disclosed in their maritime circular, will implement a 5 percent increase in regular crossing fees for bulk carriers, general cargo ships, and roll-on/roll-off (RoRo) ships.

These amendments are set to take effect from mid-January 2024.

Moreover, the circular clarifies that container ships sailing directly from Northwestern European ports to the Far East will be exempted from the mentioned fee increase, reinforcing the strategic importance of these trade routes.

The decision to revise fees reflects the Suez Canal Authority's commitment to strengthening the channel's competitiveness and ensuring smooth passage for vessels across this vital maritime pathway. These fee adjustments aim to facilitate ongoing investments in canal infrastructure and further improve the efficiency and services provided.