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25 September 2022 The on-line newspaper devoted to the world of transports 13:40 GMT+2



September 19, 2022

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Original news
Suez Canal, planned a substantial increase in rights transit

From January it will be +15% for all types of ships excluding bulk carriers and cruise ships for which the increase will be +10%

The Suez Canal Authority announced the decision to apply an increase in transit rights in the Egyptian canal which will enter into force on the first of January. The rise of the rates will be equal to a conspicuous + 15% for all the types of ships with the exception of bulk carriers and ships from cruise for which the increase will be +10%.

The President and Executive Director of the Suez Canal Authority, Admiral Osama Rabie, explained that the resolution of introducing increases has been assumed in the light of developments the global economy and in particular the maritime industry, the latter market - he specified - in which the tariffs of charter of most types of ships have reached unprecedented levels and for next year it is expected a further upward trend: for example, those relating to tankers with daily rates that have increased on average by +88% compared to 2021, while the rental installments of LNG carriers recorded an increase of +11%.

Rabie pointed out that shipping rates also maritime goods have shown a significant increase, especially in the field of container ships, with the companies of navigation that is expected to record high operating profits for all of 2023 in the light - said the admiral - of the global supply chain dysfunctions and congestion in ports from all over the world as well as for the fact that the companies are you are able to enter into long-term contracts at very high freight rates.

Rabie implicitly admitted that increases in the rights of transit are also a consequence of the strategic nature of the canal of Suez compared to alternative sea routes: emphasizing the recent and significant increase in energy prices, increases that they also concerned the fuels used by the ships, fuel oil or liquefied natural gas, the admiral remarked "the consequent increase in the savings of ships obtained from transit through the Suez Canal compared to taking routes alternatives'. It is also - he added - an increase 'inevitable and necessary in the light of the current rates of global inflation that exceeded 8%, which - he recalled - results in increased operating costs and service costs navigation provided in the canal'.

Rabie assured that "the Suez Canal Authority adopts a series of mechanisms with the sole purpose of ensuring that its tariff policies respond to changes in the maritime transport market and to ensure that the canal remains the most efficient and least expensive route compared to alternative routes'. In this regard, the admiral has announced incentives for ships that decide to pass through the Suez Canal while operating on routes compared to the such as transit in the Egyptian canal is not particularly evident competitive, offering these naval units discounts that can reach 75% of the standard rate.






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