{"id":608345,"date":"2023-10-18T00:00:00","date_gmt":"2023-10-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/18\/suez-canal-transit-fees-to-rise-next-year-plus-news-from-the-fra\/"},"modified":"2023-10-18T00:00:00","modified_gmt":"2023-10-18T00:00:00","slug":"suez-canal-transit-fees-to-rise-next-year-plus-news-from-the-fra","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/18\/suez-canal-transit-fees-to-rise-next-year-plus-news-from-the-fra\/","title":{"rendered":"Suez Canal transit fees to rise next year. PLUS: News from the FRA"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SUEZ CANAL-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The SCA is hiking transit fees next year: <\/strong>Starting 15 January 2024, the Suez Canal Authority (SCA) will hike transit fees by 15% for a number of different vessel types including oil tankers, LNG and LPG carriers, and container ships, the SCA said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/10\/840.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> on Monday. The SCA will also increase transit fees by 5% for dry bulk vessels, general cargo ships, and ro-ro vessels on the same date, the statement added<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But there are exceptions:<\/strong> Container ships heading to the Far East from Northwest Europe will be fully exempt from any additional fees.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DATA POINT-<\/strong><strong>Suez Canal revenues on track for a new record high:<\/strong> Suez Canal revenues are expected to hit a record USD 10.3 bn by the end of 2023, <a target=\"_blank\" href=\"https:\/\/bit.ly\/45BTAMq\" style=\"\" rel=\"noopener\">Itt<\/a><a target=\"_blank\" href=\"https:\/\/bit.ly\/45BTAMq\" style=\"\" rel=\"noopener\">ihadiya<\/a><a target=\"_blank\" href=\"https:\/\/bit.ly\/45BTAMq\" style=\"\" rel=\"noopener\">stated<\/a> on Monday, citing a report from the SCA. This would be a 36% increase from the USD 8 bn received in 2022.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FINANCIAL SERVICES-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FRA releases mortality data to help better price life ins. policies: <\/strong>The Financial Regulatory Authority (FRA) has developed and published its first set of mortality data \u2014 known in the business as actuarial life tables \u2014 to be used for pricing ins. life products, the regulator <a target=\"_blank\" href=\"https:\/\/bit.ly\/402VPaw\" style=\"\" rel=\"noopener\">said<\/a> Monday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Up until now, we\u2019d been using 50+-year-old data: <\/strong>Previously, insurers priced life products using British actuarial tables that dated back to 1967. The new compiled data will reflect the reality of the country\u2019s population and help companies price their policies more realistically and efficiently, the regulator said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The government now expects canal revenues to rise by more than a third this year to USD 10.3 bn<\/p>\n","protected":false},"author":1,"featured_media":608346,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[111,72,76,503,181,145,131,7103,133],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-608345","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-also-on-our-radar","tag-enterpriseam","tag-financial-regulatory-authority","tag-financial-services","tag-insurance","tag-logistics","tag-manufacturing","tag-suez-canal","tag-suez-canal-authority","wpautop","entry"],"acf":{"mongo_id":"e8db8307-2cb7-4b9f-83c1-2c79b09be49e","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/10\/887.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Suez Canal transit fees to rise next year. PLUS: News from the FRA","related_issue":[608324],"teaser":"The government now expects canal revenues to rise by more than a third this year to USD 10.3 bn","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/12\/.feb4459e-a050-488b-81b7-bd2ea8651397.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Suez Canal transit fees to rise next year. 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The breaks will run through December.Container ships and bulk carriers travelling between\u2026","rel":"","context":"In &quot;Suez Canal&quot;","block_context":{"text":"Suez Canal","link":"https:\/\/enterpriseam.com\/egypt\/category\/data\/suez-canal\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/292.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":544839,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/23\/suez-canal-transit-fees-to-rise-in-may\/","url_meta":{"origin":608345,"position":2},"title":"Suez Canal transit fees to rise in May","author":"enterpriseam admin","date":"23 March 2022","format":false,"excerpt":"Transiting the Suez Canal is about to get more expensive: The Suez Canal Authority will raise fees for ships transiting the waterway from the beginning of May, it announced yesterday. Vessels carrying crude and petroleum products will pay a 15% surcharge as of 1 May, up from the 5% currently,\u2026","rel":"","context":"In &quot;Suez Canal&quot;","block_context":{"text":"Suez Canal","link":"https:\/\/enterpriseam.com\/egypt\/category\/data\/suez-canal\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/312.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":555219,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/07\/suez-canal-continues-clawing-back-pandemic-price-cuts\/","url_meta":{"origin":608345,"position":3},"title":"Suez Canal continues clawing back pandemic price cuts","author":"enterpriseam admin","date":"7 November 2021","format":false,"excerpt":"Suez Canal transit fees are set to increase by 6% for most ships starting February 2022, as the Suez Canal Authority looks to capitalize on rising traffic, which it expects to increase by almost 7% next year, according to a statement on Thursday. The increase exempts LNG and cruise ships,\u2026","rel":"","context":"In &quot;Suez Canal&quot;","block_context":{"text":"Suez Canal","link":"https:\/\/enterpriseam.com\/egypt\/category\/data\/suez-canal\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/346.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":571184,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/03\/suez-canal-authority-cuts-passage-fees-reduced-for-two-months\/","url_meta":{"origin":608345,"position":4},"title":"Suez Canal Authority cuts passage fees reduced for two months","author":"enterpriseam admin","date":"3 May 2020","format":false,"excerpt":"The Suez Canal Authority has reduced fees for container ships crossing the Suez Canal until 30 June. Fees will be slashed by 60%-75% for transit container ships originating from the US and heading to destinations in Southeast Asia. Container ships originating from Northwest European ports and the ports of Tangier\u2026","rel":"","context":"In &quot;Automotive + Transportation&quot;","block_context":{"text":"Automotive + Transportation","link":"https:\/\/enterpriseam.com\/egypt\/category\/automotive-transportation\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":558732,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/24\/suez-canal-revenues-are-up\/","url_meta":{"origin":608345,"position":5},"title":"Suez Canal revenues are up","author":"enterpriseam admin","date":"24 August 2021","format":false,"excerpt":"Suez Canal revenues rose almost 11.2% y-o-y to USD 3.88 bn from January to August, compared with the preceding year when revenues came in at USD 3.49 bn, Suez Canal Authority (SCA) boss Osama Rabie told a Sada El Balad Sunday (watch, runtime 9:03). Reuters also had the story.Suez Canal\u2026","rel":"","context":"In &quot;Suez Canal&quot;","block_context":{"text":"Suez Canal","link":"https:\/\/enterpriseam.com\/egypt\/category\/data\/suez-canal\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/245.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/608345","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=608345"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/608345\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/608324"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/608346"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=608345"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=608345"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=608345"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=608345"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=608345"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}