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The Suez Canal Authority introduced new canal tolls of 5%, 7% or 10% on all vessels from March 1, following a 6% increase announced in November. Xeneta's Peter Sand said a large container ship already pays $500,000 to $600,000 per transit and the rise makes global trade more expensive.
Higher transit costs favor routing around the Cape where fuel use rises, which lifts ocean freight charges on grain and oilseed cargoes moving between Asia and the Americas.
ofimagazine.comQuartz Business MediaMar 11, 2022Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
