Sea freight may be affected and will be raised soon! Suez Canal prices are going up again!


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Sea freight may be affected and will be raised soon! Suez Canal prices are going up again!

Egypt's Suez Canal Authority recently issued a statement saying that starting from January 15, 2024, the tolls for some ships passing through the Suez Canal will 

be increased.

The statement said that starting from January 15 next year, crude oil carriers, product oil carriers, liquefied petroleum gas carriers, liquefied natural gas carriers, 

chemical carriers and other liquid bulk carriers, container ships,

Tolls for vehicle carriers, pleasure boats, and special floating facilities will increase by 15%. Tolls for dry bulk carriers, general cargo ships, ro-ro ships and other 

vessels will be increased by 5%.

At the same time, container ships sailing directly from ports in northern and western Europe to ports in the Far East are not affected by the new round of price 

increases, the statement said.

In June this year, Egypt's Suez Canal Authority announced that the Suez Canal's revenue would reach US$9.4 billion in the 2022-2023 fiscal year, up from

 US$7 billion in the previous fiscal year.

The Suez Canal is located at the junction of Europe, Asia and Africa, connecting the Red Sea and the Mediterranean. Canal revenue is one of the main sources 

of Egypt's national fiscal revenue and foreign exchange reserves.

The Port of Suez is located at the top of the Gulf of Suez in the Red Sea, southeast and southwest of the city of Suez. The Port Authority coordinates are 29 

degrees 57 minutes north latitude and 32 degrees 33 minutes east longitude.

7% of the world's maritime trade volume passes through the Suez Canal, of which 35% is in ports along the Red Sea and Persian Gulf, 20% is in ports in India

 and Southeast Asia, and 39% is in the Far East.

According to statistics, about 18,000 ships from more than 100 countries and regions around the world pass through the canal every year. 70% of the oil

 exported from the Middle East to Western Europe passes through the Suez Canal, passing through the Suez Canal every year.

The goods transported by the canal account for 14% of the world's maritime trade. Among the man-made canals in the world suitable for maritime transport, 

the Suez Canal ranks among the best in terms of the number of countries using it, the number of passing ships, and the large volume of cargo.

In 2021, a Panama-flagged heavy cargo ship ran aground in the new channel of the Suez Canal that day, causing congestion in the channel. According to 

research by German insurance company Allianz, the Suez

The canal blockade could cost global trade $6 billion to $10 billion a day.

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Sea freight may be affected and will be raised soon! Suez Canal prices are going up again!

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