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 shipping companies are expected to make up to 6.7 % in profits in 2022.

Egypt also needs money to expand the canal. Following the Ever Given accident, the 200 kilometre long southern section is to be widened. There is talk of widening it by 40 metres and deepening it from 20 to 22 metres. Alongside tourism, the Suez Canal is the country's most important source of income. Every year, 19,000 ships pass through the canal. According to the trade journal HANSA, the fees amount to almost 6 billion euros per year. A container ship allegedly pays up to 450,000 dollars, while a normal passage costs 100 to 250,000 dollars. It is worth knowing for the owners of yachts that even with a length of 15 metres, the price is around 500 US dollars excluding mooring fees in the marinas.

The charges had already risen by between 1.4 and 3.7 per cent in April, depending on the type of ship. Months ago, the route through the canal became more expensive for oil tankers, container ships and warships. Prices for passenger ships also rose less sharply in April. The reaction followed the blockade by Ever Given.