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Suez Canal announces new toll increase effective March 1

After raising tolls one month ago, the Suez Canal Authority has announced another toll increase effective March 1, 2022.

According to circulars by the canal authority, the levy decision was “in line with the significant growth in global trade, the improvement of ships’ economics, the Suez Canal waterway development and the enhancement of the transit service.”

For most vessel types, there will be hikes of 5-7% in both northbound and southbound directions for laden and unladen ships. Chemical, liquid bulk tankers and LPG tankers will see the biggest increase of 10%.  

Containerships will see surcharges in place since March 1, 2021 rise by as much as 10% in the northbound direction while southbound box ships will see no increases.

Last March, the giant containership Ever Given grounded in the canal and blocked shipping for six days, provoking major global supply chain problems. 

The Suez Canal Authority launched last summer a project to expand a portion of the international waterway, but Suez Canal Authority Chairman Osama Rabie recently indicated it would be too costly to widen the entire length of the canal. (Evergreen photo)