Suez Canal Surcharges Rise, Global Freight Rates Expected to Fall

Lloyd's List, GMK Center, Freight Club · Jul 31, 2026 00:00

The Suez Canal Authority implemented a 12 percentage point increase in surcharges for most vessel types from mid-July 2026, with laden crude oil tankers now facing a 37% surcharge. However, the phased reopening of the Suez Canal, coupled with new vessel deliveries and softer demand, is projected to drive global freight rates down by up to 25% in 2026.