Suez Canal will increase toll rates for the third time this year

The Suez Canal Authority (SCA) announced new increases in its toll rates that will become effective in may for all types of vessels crossing the waterway. Although they have indicated that these increases would be temporary, it is still surprising because since March 1, they had already made effective an increase announced months ago.

The Suez Canal Authority reported on its website that the increases "correspond to the significant growth of global trade" and mentioned the "development and improvements of the transit service" in the canal.

The modified tolls already apply to ships transiting the Suez Canal as of May 1, 2022. "These surcharges are temporary and may be modified or cancelled according to the market conditions of the maritime industry", the Suez Canal Authority declared.

Officials also asked to "Recall that Egypt had already raised transit tolls for almost all ships through the Suez Canal, one of the most crucial waterways in the world, with hikes of up to 10%". Just a month after it raised tolls by 6% for most types of vessels, except for cruise ships and LNG carriers, gCaptain Maritime News reported.

The increases could be revised or cancelled in the future, according to changes in global shipments, they added. Such increase will affect differently depending on the type of vessel and traffic and will be valid from May 1, 2022.