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Suez Canal's toll hiked as Global trade got expensive

Posted on March 7, 2022   |  

  • The Suez Canal Authority released a new set of canal tolls on all vessels traveling both north and south with an increase of either 5%, 7%, or 10%, depending on carrier type, and will be effective Tuesday.
  • The additional rate case comes as record volumes are transiting through this key waterway.
  • This is the 2nd toll increase on all vessels, except LNG and cruise ships, in the last month. Those two vessel classes were spared when the Suez Canal Authority (SCA) increased transit tolls by 6% in early November beginning in February. 
  • The number of journeys transiting the Suez Canal increased over the past 3 years in some sectors, especially in the Dry Bulk and LNG sectors.
  • Comparing voyages crossing the Suez Canal in January 2022 journeys increased by a significant 68%. 
  • This new toll announcement is significant for a container ship that pays $500,000 to $600,000 per transit.
  • Given the length of voyage time from China to the United States and the increase in fuel prices, the Suez will be a less costly option.



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