Suez Passage becomes more expensive
Shipping journeys through the Suez Canal are to become more expensive. The operators have announced that the price of transits will increase from February 2022. Admiral Osama Rabea, head of the Suez Canal Authority, announced the price increase for almost all ships, except for cruise ships. According to the authority, the increase is 6% and reflects economic developments. This is Egypt's way of taking a slice of the growing global trade pie, as demand in maritime transport has increased and up to 6.7 % in profits are expected for shipping companies in 2022. Egypt also needs money to expand the canal. After the accident of the Ever Given...
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