Today: 2 June 2025
18 September 2022
1 min read

Egyp to hike Suez Canal transit fees in 2023

The authority said on Saturday that rising energy prices, freight rates, and daily charter rates for ships, predicted to continue next year, are the main reason for raising transit tolls …reports Asian Lite News

The Suez Canal’s transit tolls will increase by 15 per cent for all types of vessels and 10 per cent for dry bulk and cruise ships starting next year, the Suez Canal Authority (SCA) announced in a statement.

The authority said on Saturday that rising energy prices, freight rates, and daily charter rates for ships, predicted to continue next year, are the main reason for raising transit tolls along the vital canal connecting the Mediterranean Sea to the Red Sea, Xinhua news agency reported.

“The (tolls) increase is inevitable and is a necessity in light of the current global inflation, which translates into increased operational costs and the costs of the navigational services provided in the canal,” SCA Chairman Ossama Rabiee said in the statement.

He added that the SCA adjusted the tolls through clear mechanism incorporating the changes in the maritime transport market, noting the canal remains the most efficient and least costly route compared to alternative routes.

ALSO READ: Egypt, Qatar ink key deals to boost ties

Previous Story

QUEEN ELIZABETH II: End of an era

Next Story

Modi and Erdogan discuss ways to deepen ties

Latest from -Top News

India Signals FTA with Oman

The talks for the free trade pact with Oman started in November 2023, and Goyal visited the Gulf country from January 27 to January 28….reports Asian Lite News Commerce and Industry Minister

Syria Strikes $7b Deal

The agreements, signed in the presence of Syrian leader Ahmed al-Sharaa, mark a total investment of 7 billion U.S. dollars…reports Asian Lite News – Syria signed a series of memoranda of understanding

More Killings in Palestine

Israeli occupation forces opened fire directly at hundreds of civilians as they attempted to reach an aid distribution centre in the al-Mawasi area of western Rafah At least 31 Palestinians were killed

Hamas Open to Fresh Talks

The movement said that it is ready to “immediately begin a round of indirect negotiations” to address the outstanding issues…reports Asian Lite News Hamas affirmed its readiness to begin indirect negotiations over

UAE aid for Gaza in global focus

Titled Hope Remains, the documentary brings to light the UAE’s leading role in providing vital aid and support to the people of Gaza. The International Humanitarian and Philanthropic Council has released a
Go toTop

Don't Miss

Suez Canal Adds $6.3 bn to Egypt in 2021

The revenues of Egypt’s Suez Canal in 2021 reached $6.3

Suez Canal revenue hits record high in 2021

The revenue of Egypt’s Suez Canal reached a record high