News of the ships using alternate ways to reach the Suez Waterway as a result of the decision to increase passage costs for the canal as of January 2023 circulated on several websites and social media pages.
The Suez Canal Authority was approached in this regard by the communications centre of the Council of Ministers, which disputed the reports and emphasised that there was no truth to the ships using alternate ways to reach the Suez Canal. because it was decided to increase transit fees for the canal starting in January 2023.
She emphasised that by estimating ship transit fees based on the savings commensurate with the fees achieved by the channel for transit ships, the authority applies a balanced and flexible pricing and marketing strategy that achieves common interests with its customers and takes into account global economic conditions and their variables through clear mechanisms to keep pace with its pricing policies.
to maintain channel leadership, make it the best, fastest, and shortest option for clients, and make it the least expensive option when compared to rival approaches.
She stated that the decision to raise the fees for crossing the canal resulted from market changes in the maritime transport industry, which have seen a continued rise in the categories of daily time chartering for the majority of ship types and their expectations for a continuation of this trend during the upcoming year, as well as the high rates of global inflation, which led to an increase in operating and maintenance costs as well as the provision of navigational services in the can.
She emphasised that the canal continues to set record-breaking feats, citing navigation statistics from the canal’s third quarter of 2022 as evidence. These statistics show that 6,252 ships passed through the canal during this time period, which is the highest quarterly transit rate in the canal’s history. generating $2 billion in income from a total net tonnage of 372. 7 million tonnes.
In a related vein, 2024 ships from both directions passed through the canal in September, compared to 1856 ships that did so in the same month last year. This is an increase of 168 ships, or 9.1%, and a difference of 168 ships.
Total net tonnages reached 120 million tonnes, up from 112 million tonnes in September of last year. This is an increase of 7.1% and an increase of 8 million tonnes. Revenues reached $683. 2 million, up from $561.
3 million in September of the previous year, a difference of $119.0 million, or a 21.7% rise. According to navigational statistics, 82 ships with a combined net tonnage of 5. 2 million tonnes passed through the canal on Monday last week as part of the daily navigational movement.
By issuing navigational pamphlets that permit fee policies to be adjusted in the event of changing navigation market conditions and by offering incentives to ships operating on routes where the canal does not achieve savings commensurate with the fee, the authority implements several mechanisms to ensure that its pricing policies keep pace with changes in the maritime transport market. These mechanisms include making the canal route more appealing and less expensive compared to competing methods,
The regulations governing the canal allow it to offer suitable incentives to entice ships to cross it, which has been successful in increasing income and the number of passing ships during the Corona crisis and the Ukrainian-Russian crisis.
Urgent.. After the fee hike, have nations looked into alternatives to the “Suez Canal”? The authority reacts.
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