New Toll Rates to be Applied for Suez Canal Transits Starting 2023

New Toll Rates to be Applied for Suez Canal Transits Starting 2023

New resolutions to apply a balanced and flexible strategy on pricing and marketing

The Suez Canal Authority has issued today new resolutions on the Suez Canal transit tolls that are to be applied in 2023.

Adm. Ossama Rabiee, SCA's Chairman and Managing Director, has announced today increasing the transit tolls for all types of vessels by 15% during 2023 while that increase is at 10% for dry bulk ships and cruise ships as of the beginning of January of next year.

Adm. Rabiee has confirmed the SCA's keenness to apply a balanced and flexible strategy on pricing and marketing that serves the its own interest and that of its clients.

The strategy takes into consideration the various changes in global economy through clear mechanisms that include calculating a vessel's transit tolls depending on the savings it achieves by transiting through the Canal.

This systems works with navigational circulars issued and updated by the SCA according to real-time changes for all the categories of transiting vessels which allows for amending the transit tolls effectively in the event of changes the global navigation market witnesses.

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This eventually allows for providing navigational services for transiting vessels that are in line with the SCA's standards policy to ensure the Canal's position at the forefront as the world's optimal, fastest and shortest route for all clients.

Rabiee pointed out to the impact the increased energy prices have on the equation of tolls calculation where the continued increase in crude oil prices over $90 per barrel.

The increase in the average LNG prices above $30 per million thermal units, have also led to a rise in the average prices of ships bunker and consequently an increase in the savings ships achieve by transiting through the Suez Canal compared to other alternative routes.

The Chairman of the SCA concluded his statement by confirming the Authority's continuous endeavors towards best supporting its clients and gaining their trust as well as maintaining active communication channels with them.

That is in addition to building upon the Authority's consecutive achievements in dealing with various challenges and managing crisis that were some of the most difficult ones throughout its long history.

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