Up to $7,000.. High shipping costs in the Suez Canal

The Suez Canal has become a promising and attractive area for global investments, as there are large projects currently underway in the Suez Canal Economic Zone.

economic zone

Sherif Al-Diwani, an economist, said that many projects are underway in the Suez Canal, including the free economic zone, and investment in green hydrogen in light of the global rise in energy prices, pointing out that the Suez Canal economic zone is promising and capable of attracting global investments to it.

Sherif Al-Diwani explained that the global trade movement has been in a state of difficulty since the days of Corona, and has begun to recover more than it was now, as a result of solving the problems that were facing global trade in terms of employment, closure, long waiting for ships and disruption in factories, which was reflected in the increase in global trade movement. The cost reaches 12 thousand dollars, depending on the type of goods.

There is currently a significant increase in the cost of international trade, as the cost of shipping a container was about $2,000, and currently it has reached about $7,000 from China to Egypt, and sometimes the cost reaches $12,000 depending on the type of goods, and there is a significant increase in shipping costs.

Raise the traffic tariff from the Suez Canal

Recently, Egypt decided to raise the transit tariff from the Suez Canal. There can be no concern about the decrease in the number of ships that will cross the canal, as the owners of the market and goods will appreciate Egypt's right to raise the transit tariff, because they are well aware that operating costs have become very high now increased operating costs

Egypt is completely free to raise the traffic tariff, due to the increase in operating costs, and the ships not resorting to alternative shipping lanes such as the Cape of Good Hope road, due to the large rise in oil prices that ships consume in the event of resorting to international parties, and that it is better for the owners of goods to keep traffic from the canal because it consumes twice as much fuel as the fees imposed by the Suez Canal.

Attracting foreign investments

Dr. Hisham Ibrahim, Professor of Finance and Investment at Cairo University, confirmed that the recent reforms in Egypt have enhanced the attraction of foreign investments, and that the new Suez Canal has placed the Egyptian economy in the ranks of global economies.