Egypt’s Suez Canal fee hike won’t have a ‘massive’ impact on trade flows, analyst says

Egypt announced on Saturday that it will raise transit fees in 2023 for all types of vessels passing through the Suez Canal.

According to a statement released by the Suez Canal Authority, transit fees for tankers passing through the canal will rise by 15%. The increase for dry bulk carriers and tourist ships is 10%.

“The increase is inevitable and a necessity in light of the current global inflation rates,” said the authority’s chief, Osama Rabiee.

But an analyst from Mandarin Shipping told CNBC that while the rise in Suez dues will not have a massive impact on trade flows, it will fuel ongoing inflation.

For more details, please visit the below website of CNBC. https://www.cnbc.com/2022/09/19/egypts-suez-canal-to-increase-transit-fees-by-15percent-in-2023.html

Reference: Lee Ying Shan, "Egypt’s Suez Canal fee hike won’t have a ‘massive’ impact on trade flows, analyst says", CNBC, Sep 19, 2022