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Suez Canal toll increase

February 8, 2014 at 2:46 pm

The Suez Canal Authority (SCA) has raised its tolls for shipping with immediate effect. The new tolls will reflect increases of between 2 and 5 per cent, depending on the size, type and load of the vessels using the link between the Mediterranean and Red Seas.

Oil tankers and ships carrying other petrochemical products can expect to pay 5 per cent more to pass through the canal, said the SCA. Container ships and car transporters face a 2 per cent increase in charges, while all other ships will pay an extra 3 per cent.

The decision to raise fees was based on several recent studies conducted by the SCA on marine traffic and toll revenues. Forecasts of the numbers of vessels using the waterway were also taken into account so that the Canal would remain economically viable for ship-owners to use.

Figures released by the SCA show that the Suez Canal yielded revenues $5,129,600,000 in 2012; it was used by 17,252 ships carrying cargoes totalling 932.43 million tons in weight.