Egypt’s Suez Canal to raise tolls by 10% starting March 1st

Egypt’s Suez Canal Authority said on Monday it would be raising canal tolls by up to 10 percent for laden and ballast vessels, effective March 1st.

The decision is “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”, a series of circulars by the canal authority read.

In February, the canal authority increased its transit tolls for vessels travelling through the waterway by six percent.

Transit dues for liquefied petroleum gas, chemical tankers, and other liquid bulk tankers passing the Suez Canal in both directions will increase by 10 percent.

The authority also added that it would introduce a seven percent increase for vehicles carriers, liquefied natural gas carriers, general cargo vessels, multi-purpose vessels, heavy-lift vessels, roll-on/roll-off vessels, in addition to special floating units.

A five percent increase will also be applied to petroleum product tankers, crude oil tankers, and dry bulk vessels, the authority added.