SUEZ Canal Authorities (SCA) will increase tariffs in April for crude oil tankers by 25 per cent, 15 per cent for empty tankers and 10 per cent for other merchantmen, reports Bangalore's Marine Insight.
The SCA defended this price hike stating that the development of maritime routes coupled with the growth in naval economies and the increase in global trade has made this decision essential.
SCA chief Osama Rabie termed this was "inevitable", given inflation rates. Earlier in March 2022, the canal authorities levied new surcharges on ships.
The rates will be applicable from April onwards, and these tariffs are subject to change as per the dynamics of the navigation market.
In 2022, nearly eight per cent of SCA's revenue came from tankers. The Suez Canal accounts for more than 12 per cent of global maritime traffic.