Suez Canal to raise fees, heaping pressure on global supply chains

With shipping industry still recovering from Ever Given crisis, transit tolls are increasing by 6%

The Suez Canal Authority is increasing the fees it charges ships passing through the critical waterway, in a move expected to pile further inflationary pressure on global supply chains.

It will seek to capitalise on the recovery in cargo trade by raising its transit tolls by 6% from February, 11 months after the canal was blocked for nearly a week by the Ever Given container ship. About 12% of international trade passes through the canal, which is the shortest maritime route between Asia and Europe.