The Suez Canal Authority will increase the canal’s transit tolls by 15 percent for all types of vessels and 10 percent for dry bulk and cruise ships starting next year.

“The Suez Canal Authority has issued today new resolutions on the Suez Canal transit tolls that are to be applied in 2023,” the authority announced in a statement.  

“Ossama Rabiee, SCA's Chairman and Managing Director, has announced 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,” the statement said.

“Ossama Rabiee has also stated that the increase is inevitable and a necessity in light of the current global inflation rates that reached more than 8% which translates into increased operational costs and the costs of the navigational services provided in the Canal,” the statement added.

Suez Canal Authority (SCA) is an Egyptian state-owned authority which owns, operates and maintains the Suez Canal.

It was established by the nationalization act signed on 26 July 1956 by the Egyptian president Gamal Abdel Nasser.

The act at the same time nationalized the Suez Canal Company and transferred all its assets and employees to the SCA established by this act. (ILKHA)