Suez Canal Authority (SCA)

Container Shipping Lines Brace For Impact Amidst Imminent Fee Hikes

  • Container shipping lines are set to see another spike in costs next year.
  • Suez Canal Authority (SCA) announced that it would increase fees on northbound transits by 15%.
  • The increases will not apply to eastbound vessels returning to Asia whose last port call was at the Straits of Gibraltar.

The same hikes, which will take effect on 15 January, also apply to all other types of vessel except ro-ro ships, which will be subject to a 5% increase, sources Loadstar.

Hefty Cost Increases

However,...

https://mfame.guru/container-shipping-lines-brace-for-impact-amidst-imminent-fee-hikes/

Suez Canal fees set to rise

Fees for transiting the Suez Canal are set to rise by 15% for most vessel types from the 15 January 2024 with some exemptions for container vessels out of North European ports.

General fees for container ships and car carriers as well as crude, chemical and product tankers and gas carriers will all see a 15% increase in Suez Canal transit charges, while dry bulk and roro vessels will be charged 5% more from the same date, according to the Suez Canal Authority (SCA).

However, an additional...

https://container-news.com/suez-canal-fees-set-to-rise/

Greek bulk carrier suffers technical failure in Suez Canal

Greek bulk carrier Glory run aground after a sudden technical failure it faced when it was sailing through the Suez Canal, at the 38th kilometre of the canal.

Adm. Ossama Rabiee, chairman and managing director of the Suez Canal Authority (SCA), has announced that the SCA salvage unit has dealt with the incident and the vessel, which is among the North convoy on its way from Turkey to China, is now being towed to the 51st kilometre of the Suez Canal.

Ossama Rabiee noted that traffic through the...

https://container-news.com/greek-bulk-carrier-suffers-technical-failure-in-suez-canal/

Suez Canal tolls to rise tomorrow

The Suez Canal Authority has announced on 27 February that it will increase canal tolls by up to 10% for laden and ballast vessels.

The toll increase will be effective from 1 March, according to Egypt’s Suez Canal Authority, which said the decision is “in line with the significant growth in global trade, the improvement of ships’ economics, the Suez Canal waterway development and the enhancement of the transit service”.

In November 2021, the canal authority unveiled its intention to increase the...

https://container-news.com/suez-canal-tolls-to-rise-tomorrow/

Suez Canal Authority extends tug fleet

The global towage provider and part of Maersk Svitzer has extended its current contract with the Suez Canal Authority (SCA) to include two additional tugs to service the Suez Canal.

Svitzer started operating in the Suez Canal in late 2019 with two 32-metre tugs, Svitzer Port Said 1 and Svitzer Port Said 2, providing towage services to the SCA out of Port Said at the northern end of the Suez Canal.

The two tugs were joined by sister vessels Svitzer Suez 1 and Svitzer Suez 2 in December 2021.

Now,...

https://container-news.com/suez-canal-authority-extends-tug-fleet/

SCA boss says Suez Canal expansion will be completed in July next year

The chairman of the Suez Canal Authority (SCA), Osama Rabie, has confirmed that the expansion of the canal is expected to be completed in July 2023, 24 months after the launch of the project, according to a Reuters report.

The authority has unveiled plans to extend a second channel of the Suez Canal and to enlarge the existing one, after Ever Given blocked the major waterway in March 2021 in the most popular container ship accident in the world, causing significant supply chain challenges...

https://container-news.com/sca-boss-says-suez-canal-expansion-will-be-completed-in-july-next-year/

Suez Canal Authority to increase transit tolls by 6%

Suez Canal Authority (SCA) has published new resolutions concerning the fees of the transiting ships through the canal and new marketing strategies that will be applied during the next year.

In particular, Admiral Osama Rabea, Chairman of the SCA announced on 4 November that the authority will increase the transit tolls of transiting ships through the canal by 6% during 2022 compared to the current tolls.

The additional fee that will take effect in upcoming February will be imposed on all vessels...

https://container-news.com/suez-canal-authority-to-increase-transit-tolls-by-6/

Svitzer extends contract with the Suez Canal Authority

The Danish towage provider, Svitzer AMEA (Africa, the Middle East and Asia) has announced that it has extended its current contract with the Suez Canal Authority (SCA) to include two additional tugs in the canal’s fleet.

Delivered from the Cheoy Lee Shipyard, the new bollard pull tugs of more than 70 tonnes each, will be manned by all Egyptian crews and they are planned to start operations out of Port Suez by the Red Sea entrance to the canal, until the last quarter of 2021.

The two newbuilt tugs...

https://container-news.com/svitzer-extends-contract-with-the-suez-canal-authority/

Ever Given blocked Suez Canal traffic but not its record revenues

The 20,388TEU Ever Given blocked the Suez Canal for almost a week in late March, causing a global supply chain chaos, but did not stop the record revenue pace of the canal authority.

The major canal in Egypt has seen its revenues reach a record US$5.84 billion in its financial year (FY) which started on 1 July 2020 and ended on 30 June 2021. This represents an increase of US$120 million compared to the previous FY, according to the Suez Canal Authority (SCA).

The record FY results’ announcement...

https://container-news.com/ever-given-blocked-suez-canal-traffic-but-not-its-record-revenues/

SCA, Ever Given owners and insurers come to a deal in principle

An agreement in principle has been reached among the Suez Canal Authority (SCA), the owners of the 20,388TEU Ever Given, which blocked the Suez Canal in March, and the vessel insurers.

“Following extensive discussions with the Suez Canal Authority’s negotiating committee over the past few weeks, an agreement in principle between the parties has been reached,” said UK P&I Club in a statement.

According to reports, the deal comes after an increased offer from the Japanese shipowner of Ever Given,...

https://container-news.com/sca-ever-given-owners-and-insurers-come-to-a-deal-in-principle/

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