Tag: Suez Canal

On March 5th, the Suez Canal Authority (SCA) succeeded in its efforts to refloat the grounded container ship MSC Istanbul and the vessel has resumed its journey.

Bahri, the national shipping company of the Kingdom of Saudi Arabia, has signed a non-binding renewable six-month agreement with the Suez Canal Authority with the view to create a joint Egyptian shareholding company to offer maritime transportation services in the Egyptian market.

The International Chamber of Shipping and Egypt’s Suez Canal Authority have re-signed an agreement covering key issues impacting international shipowners and operations of the Suez Canal.

Egypt's Suez Canal Authority has announced its intention to raise canal tolls by up to 10% for laden and ballast vessels beginning March 1.

The Suez Canal Authority has issued new resolutions on the Suez Canal transit tolls that are to be applied in 2023. The tolls regard all types of vessels by 15% during 2023 while the increase is at 10% for dry bulk ships and cruise ships as of the beginning of January of next year.

From the beginning of May, the Suez Canal Authority will raise fees for ships transiting the water way, adding 15% to the transit fees for petroleum-, oil-, and products-laden tankers.

Suez Canal Authority has confirmed that it will not tolerate improper behaviours or misconducts and encourages the shipping industry to stand against corruption.

A project to expand parts of the Suez Canal is expected to be completed after two years of work in July 2023, according to the chairman of the Suez Canal Authority (SCA).

Egypt's Suez Canal Authority (SCA) plans to offer new financial incentives for ships that follow environmentally friendly standards.

Despite the Ever Given blocking the Suez Canal in March 2021, the canal achieved the highest annual revenue in its history, amounting to 6.3 billion dollars, while also experiencing a 10% increase in traffic.