The Suez Canal Authority (SCA) announced an increase to vessel transiting costs effective by the beginning of May 2022. This decision was adopted due to a “significant growth in global trade, the improvement of ships’ economics, waterway development and the enhancement of the transit services.” The Suez Canal Authority (SCA) website published a series of amended regulations with regards to transit costs for “special floating units,” cargo and oil-laden vessels. The term Special Floating Units refers to yachts, dredgers, fishing vessels, warships, tugs, research ships, and all floating units or vessels that specialise in purposes and tasks other than the transport of goods and passengers between ports. The announced amendments included additional fees for special floating units, crossing the Suez Canal in both directions, now increased to 14 percent of the normal transit fees. As for crude oil-laden and petroleum products-laden tankers, the additional fees have increased to 15 percent of the normal transit fees. Additionally, vessels carrying general cargo, vehicles and heavy lift vessels, as well as multi-purpose vessels, will see an increased surcharge of 14 percent up from 7 percent. “These surcharges are temporary and can be either…
