ALBAWABA - Today marks the implementation of higher tariffs on fees collected from international ships passing through the Bosphorus strait without stopping. The new rate of $4.42 per net ton replaces the previous fee of $4.08 and will have immediate implications for shipping costs and global trade.
The increased tolls are expected to affect shipping prices, potentially leading to higher transportation expenses and impacting international trade. As a crucial maritime trade route, changes in Bosphorus tolls may necessitate adjustments to trade routes and global trade patterns. The full extent of the impact on shipping prices and the global economy remains to be seen.
In response to the changes, the Minister of Transportation and Infrastructure highlighted that the annual update of strait passage fees will result in increased revenue from the Bosphorus. Previously, a single ship incurred a total fee of $3,240 for lighthouse, rescue, and health services. In October 2022, this fee was revised to $16,393. Under the new tariff, a 10,000-ton net tonnage vessel will now face an expense of $17,760, aiming to boost foreign currency inflows into the country.
The Montreux Convention governs the fees imposed on international ships passing through the Turkish Straits without stopping, which are categorized under lighthouse, rescue, and health services. These charges are calculated based on the ships' net tonnage, with the "Gold Franc" serving as the unit of measurement. Previously fixed, the Presidential Decree now mandates an annual recalculation and automatic adjustment of strait passage fees, effective every July 1st.
