Suez Canal to raise transit fees, increasing pressure on global supply chains

Hapag-Lloyd

The Suez Canal Administration (SCA) has decided to increase the transit fee rate from ships passing through the canal by 6%, resulting in further inflationary pressures on global supply chains.

The increase will take place in February 2022, but the increase in fees will not apply to vessels running on liquefied natural gas. This will also apply to cruise ships, as, according to the SCA press service, this sector has experienced a deeper shock from the pandemic than others.

«The channel Administration applies a balanced and flexible marketing and pricing strategy, taking into account global economic conditions. The main goal is to maintain the competitiveness of our route. The tourism and travel sector has suffered heavy losses around the world, including cruise ships and Sea Yachts, and is expected to complete its recovery by 2022.», — йдеться в повідомленні відомства.

According to forecasts of the International Monetary Fund and the World Trade Organization, in 2022, World Trade turnover will grow by 6.7%, which will mean “good profits” for shipping companies.

Recall that today about 12% of international trade passes through the Suez Canal, which is the shortest sea route between Asia and Europe.

Source

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