Suez Canal authorities withhold fee increase

It was expected that the SCA would announce a range of increases from this month (January) but the escalation of piracy in the southern approaches to the Red Sea, which has resulted in some shipping lines diverting their vessels on the longer and more expensive route around the Cape of Good Hope, is now thought to have played some part in the delay.

Another factor is the effect the downturn in the global economy is having on shipping companies.

Revenue from the canal for the current financial year is nevertheless expected to reach US$ 4.8bn, an increase of 16% on the previous year.