The Suez Canal Authority decided to increase transit fees for ships by 6 percent in 2022 compared to 2021 starting February, Chairman of the Suez Canal Authority, Osama Rabea, announced on Thursday. Rabea said in a statement that cruise ships and LNG ships will be excluded from the increase keeping the fees as they were during 2021. He explained that these mechanisms include estimating the tolls of the transiting vessels, which allows providing the navigational services for transiting through the canal according to a model policy. Rabea said that the decision comes in light of the continuous follow-up to the most recent variables of the LNG seaborne trade. The revenues of the Suez Canal, despite various challenges witnessed a major boom recently, as navigation statistics from January to October 2021 recorded $5.2 billion, compared to $4.6 billion during the same period of 2020.
