Global Trade Just Got More Expensive, Says Xeneta Chief

195

The Suez Canal Authority has released a new set of canal tolls on all vessels traveling both north and south. The increase for both full and empty vessels will be either 5%, 7% or 10%, depending on carrier type, and become effective Tuesday.

Global trade got more expensive 

Xeneta Chief Analyst Peter Sand told American Shipper “This new toll announcement is substantial for a container ship that already pays $500,000 to $600,000 per transit.”

The SCA primarily makes its money on container shipping and continues to see record volumes. According to Sand, for a large container ship, this hike means a one-way transit goes from $625,000 to $675,000.

Global trade just got more expensive,” he said.

Did you subscribe to our daily Newsletter?

It’s Free! Click here to Subscribe

Source: LinkedIn

LEAVE A REPLY

This site uses Akismet to reduce spam. Learn how your comment data is processed.