From the beginning of May, the Suez Canal Authority will raise fees for ships transiting the water way.
The Suez Canal Authority said that it will add 15% to the transit fees for petroleum-, oil-, and products-laden tankers. This increase is up from the existing 5%.
As mentioned by the authority, vessels carrying crude and petroleum products will pay a 15% surcharge as of 1 May, up from the 5% currently. The decision comes on the back of “significant growth in global trade, the improvement of ships’ economics, the Suez Canal waterway development and the enhancement of the transit service,” the authority said.
However, the SCA noted that this decision could later be called off or revised, per changes in worldwide shipping. The new increase is an amendment to surcharge hikes levied on vessels that pass through the waterway in March.
The authority also added a surcharge fees for liquid bulk tankers, including chemical tankers. For them, the hike from 10% will go up to 20%. On the other hand, ballast and laden dry bulk carriers will encounter an increase of 10%.
Moreover, vessels that are loaded with general cargo, vehicles, heavy-lift vessels, and multipurpose vessels will face a 14% increase from the existing 7%. Ballast oil and crude oil products tankers passing via the Suez Canal are needed to provide a surcharge of 5% of the usual transit fees.
In addition to that, according to the Egyptian Marine Insurance Consultations & Services (EMICS), the Suez Canal Authority announced the imposition of new penalty fine up to $10.000 in certain cases, starting from April.
