Tolls on Egypt’s important waterways will be raised soon!

Summary: Egypt’s Suez Canal Authority announced that it will increase some ship tolls starting from January 15, 2024. The increase is that tolls for crude oil, refined oil products, liquefied petroleum gas, liquefied natural gas, chemicals and other liquid cargo carriers, container ships, vehicle carriers, cruise ships and special floating facilities will increase by 15%, while dry bulk carriers, general Tolls for cargo ships, ro-ro ships and other types of vessels will increase by 5%.

Saw this news on CCTV Financial News, Egypt’s Suez Canal Authority announced that it will increase some ship tolls starting from January 15, 2024. Tolls for crude oil, refined petroleum products, liquefied petroleum gas, liquefied natural gas, chemicals and other liquid cargo carriers, container ships, vehicle carriers, cruise ships and special floating facilities will increase by 15%. The tolls for dry bulk carriers, general cargo ships, ro-ro ships and other types of vessels will be increased by 5%. However, container ships sailing directly from northern and western European ports to ports in the Far East will not be affected by the new fee increase.

The decision represents a realignment of the Suez Canal’s vital financial resources. In the 2022-2023 fiscal year, the Suez Canal’s revenue reached US$9.4 billion, up from US$7 billion in the previous fiscal year. The Suez Canal is an important international waterway connecting the Red Sea and the Mediterranean Sea, providing a convenient channel for international trade across the three continents of Europe, Asia and Africa.

The increase in tolls may affect the product export costs of foreign trade companies in various countries. However, Ruiya Technology has always adhered to the principle of quality first and user first, focusing on providing cost-effective logo design and manufacturing services. We welcome partners to negotiate and work together to beautify our living environment and create a win-win situation for mutual success. As a high-quality logo design and manufacturing supplier, they are committed to providing professional, responsible, and comprehensive services.