Egypt Hikes Suez Canal Transit Tolls
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The Suez Canal Authority increases transit tolls of all types on all ships passing through the Suez Canal, except for cruise ships and LNG ships.
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The toll increase will take place starting February 2022
Egypt's Suez Canal Authority (SCA) has decided to increase transit tolls for ships passing through the Canal, starting February 2022.
SCA Chairman, Admiral Osama Rabea, announced the 6% price hike today, noting that only cruise ships and LNG ships will be excluded from this increase, as their tolls will remain unchanged.
Admiral Osama Rabea: “Increasing the transit tolls of all the types of transiting ships through the canal with 6% during 2022 and fixing/ stabilizing the tolls of LNG ships and cruise ships only..for more details 🔗https://t.co/Gw8X2S49B1 pic.twitter.com/3ZuEI55Yqq
— هيئة قناة السويس Suez Canal Authority (@SuezAuthorityEG) November 4, 2021
A statement released by the SCA today also stated its keenness to apply "a balanced and flexible marketing and pricing strategy," which will take into account the interests of the SCA and its clients, and global economic conditions by clear mechanisms that will include estimations of the tolls of the transiting vessels.
It also read that the toll pricing strategy is prepared by economic experts following extensive studies including all shipping variables and global economic indicators.
As for why LNG and cruise ships were excluded from the price hike, Admiral Rabea explained that these two sectors were the two worst hit by the pandemic, with the tourism and travel sectors suffering major losses worldwide.
