Suez Canal Increases Crude Oil Tanker Tariffs

16 February 2023

The rates for oil tankers have increased significantly, with 25% for crude oil tankers and 15% for empty tankers, according to the Suez Canal Authorities. This was carried on by the extension of marine routes, the expansion of naval economies, and the internationalization of trade. In April, the rates will be in effect; however, they are capable of being changed in response to changes in the navigation market’s dynamics. Almost 8% of SCA’s revenue in 2022 came from tankers, which made up 12% of all shipping traffic worldwide.

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