Suez Canal holds the line on tolls

Flat 2015 Suez tolls will provide cost relief for ocean carriers.    The Suez Canal Authority last week offered welcome news to financially-challenged commercial vessel operators, announcing that there will be no toll increase for vessels in 2015. The only exception is for liquefied natural gas tankers, which will see their 35 percent discount rolled back to 25 percent.
   The stability in toll rates, combined with a 60 percent drop in bunker fuel prices, is helping ocean-going fleets from losing money at a time of excess capacity and low rates due to a sluggish global economy.
   The move also helps maintain the Suez Canal’s competitiveness with the Panama Canal as a route for vessels serving the east coasts of North and South America. In recent years, some large container lines have switched all-water service routes from transiting the Panama Canal to the Suez in order to be able to use larger ships and save money.