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15%! Suez Canal Raises Container Ship Toll

Release Time:2023-10-25Views:673
   Starting from January 15th next year, the toll for container ships passing through the Suez Canal will increase by 15%, but container ships sailing directly from Nordic and Western European ports to Far Eastern ports will not be affected by this.The Suez Canal Authority issued a statement on October 16th stating that starting from January 15th next year, it will increase the tolls of some ships passing through the Suez Canal.According to the new charging standards, the tolls for crude oil tankers, product oil tankers, liquefied petroleum gas carriers, liquefied natural gas carriers, chemical carriers, and other liquid bulk carriers, container ships, vehicle carriers, and large cruise ships will increase by 15%; The tolls for dry bulk cargo ships, general cargo ships, roll on/roll off ships, and other vessels will be increased by 5%. However, container ships sailing directly from Nordic and Western European ports to Far Eastern ports are not affected by this round of price increases.

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       In January of this year, the Suez Canal Authority raised the tolls for a round of ships. At that time, the tolls for large cruise ships and dry bulk cargo ships were increased by 10%, and for other ships, including container ships, the tolls were increased by 15%. Osama Rabie, Chairman of the Suez Canal Authority, stated at the time that the increase in tolls was "inevitable and necessary" as global inflation rates increased the operating, maintenance, and service costs of the Suez Canal's waterways. After the increase in tolls, the Suez Canal is expected to increase revenue by $700 million annually. According to data released in June this year, the revenue of the Suez Canal reached $9.4 billion from 2022 to 2023, higher than the previous fiscal year's $7 billion. The Suez Canal is located at the crossroads of Europe, Asia, and Africa, connecting the Red Sea and the Mediterranean. Its revenue is one of the main sources of Egypt's national fiscal revenue and foreign exchange reserves.