Egypt: Suez Canal Authority to raise transit fees

Suez Canal Authority (SCA) announced plans to raise fees for ships passing through the Suez Canal by 15% in 2023.

According to Ossama Rabiee, Chairman and CEO of SCA, transit fees for bulk carriers and tourist vessels will see a 10% increase.

He also stated that the increase is inevitable and a necessity in light of the current global inflation rates that reached more than 8% which translates into increased operational costs and the costs of the navigational services provided in the Canal.

The fee increase will start from Jan. 1, 2023.