Suez Canal To Increase Transit Rates By 15% In 2023

Suez Canal, one of the world’s most important waterways, plans to increase the transit fees for vessels by 15% in 2023.

The Suez Canal Authority Chairman Osama Rabie added that for bulk and tourist ships, the fees would be raised by 10%.

The new rates will be implemented starting January 1st 2023.

According to the Canal Authority, about 20,649 vessels passed through the canal in 2021, a 10% increase from the previous year, resulting in a revenue of about $6.3 billion, the highest in the Canal’s History.

References: Reuters, Deccan Herald, ABC News

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