According to local media reports, Egypt's Suez Canal Authority issued a statement on October 16 local time, saying that from January 15, 2024, some ships passing through the Suez Canal tolls will be increased.

    Starting January 15 next year, tolls for crude oil carriers, refined oil products carriers, liquefied petroleum gas carriers, liquefied natural gas carriers, chemical carriers and other liquid bulk carriers, container ships, vehicle carriers, cruise ships and special floating facilities will increase by 15 percent, the statement said.

    In addition, tolls for dry bulk carriers, general cargo ships, ro-ro vessels and other vessels will be increased by 5 percent.

    At the same time, container ships sailing directly from ports in northern and Western Europe to ports in the Far East will not be affected by this new round of price increases, the statement added.

    In June, Egypt's Suez Canal Authority announced that Suez Canal revenues reached $9.4 billion in the 2022-2023 fiscal year, up from $7 billion in the previous fiscal year.

    According to data, the Suez Canal is located at the crossroads of Europe, Asia and Africa, connecting the Red Sea and the Mediterranean Sea. Revenue from the Suez Canal is one of the main sources of state revenue and foreign exchange reserves, and is of vital importance to Egypt.