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Egypt’s SCA to raise transit fees in 2023

Egypt’s SCA to raise transit fees in 2023

Arab Finance: The Suez Canal Authority (SCA) will raise transit fees for all vessels passing through the Suez Canal by 15% in 2023, Chairman of SCA Osama Rabie announced in a statement on September 17th.

However, transit fees for dry bulk carriers and tourism cruise ships will be increased by 10%, Rabie added.

The increase will be effective from January 1st, 2023, he pointed out.

He also noted that the value of leasing crude oil tankers and liquified natural gas (LNG) jumped by 88% and 11%, respectively, as compared to the 2021 averages.

Moreover, Rabie revealed that raising the transit fees for vessels is necessary amid the current increase in global inflation rates, which lead to higher costs of operation and maintenance.

 

 

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