Tolls for all vessel types using the Suez Canal, including tankers and containerships, are set to rise by 15% next year, with the exception of dry cargo and cruise ships, which will increase by 10%. Dry bulk ships are the only exceptions, where charter rates are currently very low, as well as cruise ships, which are still recovering from their near-total shutdown during the pandemic.
The transit toll increases beginning January 2023 were recently announced by the Chairman and Managing Director of the Suez Canal Authority. According to the SCA, the increases are based on several pillars, the most important of which is average freight rates for various times of vessels.
The Suez Canal provides a significantly shorter route between Asia and Europe, as compared to the much longer route of having to sail around the Cape of Good Hope.