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QINGYUAN CHEMICAL
23
2026
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06
The Suez Canal Announces Massive Price Hike!
The Suez Canal Authority recently announced its latest passage surcharge standards, with most types of vessels seeing a 12% increase. This means an additional 12% will be charged on top of the existing canal toll and surcharges. The new rates will take effect on July 15, 2026.
The Suez Canal Authority stated that these surcharges are temporary and will be adjusted or eliminated based on market conditions. Specifically:
- Container ships will continue to pay a 12% surcharge.
- The surcharge for dry bulk carriers will increase from 10% to 22%.
- The surcharge for fully loaded crude oil tankers and product tankers will increase from 25% to 37%; the surcharge for empty tankers will increase from 15% to 27%.
- Car carriers will have varying fees depending on their route. The surcharge for northbound vessels will increase from 14% to 26%; the surcharge for southbound vessels remains at 12%.
- The surcharge for liquefied petroleum gas (LPG) carriers and chemical tankers will increase from 20% to 32%.
- The surcharge for liquefied natural gas (LNG) carriers will increase from 7% to 19%.
- The surcharge for other general cargo ships, multipurpose vessels, roll-on/roll-off ships, heavy crane ships, etc., will increase from 14% to 26%.
In recent years, attacks on merchant ships by the Houthi rebels in the Red Sea region have led to a significant decline in Suez Canal traffic as vessels have largely bypassed the Cape of Good Hope to ensure transport security.
However, since the outbreak of the Iraq War in 2026, navigation in the Strait of Hormuz has been disrupted, prompting a large-scale shift of ships to alternative routes such as the Red Sea, indirectly contributing to a rise in Suez Canal traffic.
According to data released by the Egyptian National Statistics Authority, in April 2026, the total number of ships of all types passing through the Suez Canal was 1,182, an increase of 14% year-on-year. Among them, approximately 529 oil tankers passed through the Suez Canal, a substantial increase of 28% year-on-year.
That month, the Suez Canal also generated approximately $419 million in revenue, an increase of 27% year-on-year, the highest monthly revenue since the beginning of 2024.
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