International News

Tolls In The Suez Canal Will Be Raised In 2024

Views : 89
Author : Bozhou Marine
Update time : 2023-10-23 11:15:26

Egypt's Suez Canal Authority issued a statement stating that starting from mid-January 2024, tolls for some ships passing through the Suez Canal will be increased.

Starting from January 15, 2024, crude oil carriers, product oil carriers, liquefied petroleum gas carriers, liquefied natural gas carriers, chemical carriers and other liquid bulk carriers, container ships, vehicle carriers, cruise ships, special Tolls on floating facilities will increase by 15%.
The tolls for dry bulk carriers, general cargo ships, ro-ro ships and other vessels will be increased by 5%. However, container ships sailing directly from ports in Northern and Western Europe to ports in the Far East will not be affected by the new round of price increases.

The Suez Canal connects the Red Sea and the Mediterranean. It is an important international shipping channel that connects the three continents of Europe, Asia, and Africa (the shortest channel between Europe and Asia). It is also one of the busiest waterways in the world. About 12% of the world's trade passes through this canal. Canal revenue is also the main source of Egypt's national fiscal revenue and foreign exchange reserves.

While the move won't have a huge impact on global trade flows, rising transit fees for carriers sailing through the canal will still likely be ultimately passed on to consumers, fueling inflation everywhere. Currently, as geopolitical tensions push energy prices higher again, inflation data in many major economies around the world are showing signs of rising again. | Marine Light 
Related News
2023 Marintec China - ShangHai 2023 Marintec China - ShangHai
Dec .09.2023
2023 Marintec China - ShangHai
Charlie Munger Passed Away Charlie Munger Passed Away
Nov .29.2023
On November 28, the well-known investment company Berkshire Hathaway stated in a statement that the company's Vice Chairman Charlie Munger passed away in a hospital in California, USA, that morning at the age of 99.
Nepal Announces Prohibition of TikTok Nepal Announces Prohibition of TikTok
Nov .16.2023
On November 13th, the Associated Press reported that Nepal has announced a ban on TikTok, claiming it undermines social harmony.
Argentina Currency Plummets Argentina Currency Plummets
Oct .13.2023
Argentina is currently in the midst of its worst economic crisis in 20 years, with the peso losing 71% of its value against the dollar in the past 12 months.