(Ecofin Agency) – In November 2021, the Suez Canal Authority announced an increase in transit fees for ships. The expected date for the entry into force of the new tariffs was not respected, and the rates of increase progressed beyond what was indicated.
The Suez Canal Authority proceeded on Tuesday March 1 to an increase of 5 to 10% in transit fees for ships using this navigation corridor. A decision motivated by “significant growth in world trade”, as well as by “the needs for development and improvement of the transit service ».
In a series of press releases published on its websitethe public body indicated that under the new provisions, transit fees increase “by 10% for ships carrying LPG, chemicals and other bulk liquid products, by 7% for multi-purpose ships and those carrying vehicles, natural gas as well as common consumer goods, and by 5 % for tankers and dry bulk carriers”.
From the point of view of certain observers, these price increases are also due to the investments made by the operator from June 2021 for the extension works of certain sections of the canal after the grounding of the Ever Given. It was indeed a few months later, in numbers, that he announced a 6% increase in transit fees.
These additional charges are likely to affect the cost of goods to shippers, which will affect consumer prices.
Henoc Dossa