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Protest against Suez toll increases

The principal international trade association for shipowners, The International Chamber of Shipping (ICS), is unhappy with a toll increase on navigation through the Suez Canal, to take effect on May 1st 2013.

Photo: Josef Polleross

When shipowners from May 1st onward will sail through the Suez Canal, a new toll of 5 percent, up from the previous rate increase of 3 percent, will be charged. This increase has sparked protest from The International Chamber of Shipping.

“Most international ship operators are trading in the worst shipping markets in living memory due to there being too many ships chasing too few cargoes. This is not the time for the SCA (Suez Canal Authority) to be announcing increases, which for some trades seem very dramatic indeed, and which many shipowners will find impossible to pass on to their customers,” said Peter Hinchliffe, Secretary General of ICS.

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