The Egyptian Suez Canal Authority announced the lifting of the additional fees imposed on most categories of transiting ships, as of mid-July, in a step aimed at enhancing revenues as navigation traffic continues to recover and global shipping market conditions change.
Navigational data indicate that these fees are temporary in nature and subject to modification or cancellation according to market developments, at a time when the canal is recording a gradual improvement in transit traffic for the third consecutive quarter with a growth rate of approximately 23.6%.
The Suez Canal is a strategic corridor through which about 15% of global trade passes, and this percentage is higher in container trade, which reflects its importance in the international trade movement.
The increases included a number of sectors, most notably crude oil tankers and petroleum derivatives, where the additional fees rose to 37% instead of 25%, and they also increased on empty tankers to 27% instead of 15%.
In the gas sector, fees on carriers of liquefied petroleum gas, chemicals and other liquids rose to 32%, while fees on liquefied gas tankers rose to 19% instead of 7%.
The amendments also affected dry bulk ships, whose fees rose to 22%, in addition to general and multi-purpose cargo ships, ro-ro ships, and car carriers, whose fees became 26% instead of 14%. An additional fee of 12% was also imposed on container ships for the first time, including basic transit fees and container fees.
This development comes in light of the continued recovery of navigation traffic through the canal, with some regional shipping routes being affected by geopolitical tensions, which has prompted some shipping lines to reroute their routes through the waterways in the region.
