Turkish Authorities to Increase Fees for Passage of Ships through Bosphorus and Dardanelles by Over 8% from July 1st

Turkey to Increase Fees for Passage of Ships Through Bosphorus and Dardanelles

The Aydinlik newspaper, citing the Department of Maritime Affairs of the Turkish Ministry of Transport, reported that the Turkish authorities intend to increase the fee for the passage of ships through the Bosphorus and the Dardanelles by more than eight percent from July 1.

Previous Increase and Fee Calculation

In October last year, the Turkish authorities increased the payment for the passage of merchant ships through the Black Sea straits by 5 times. The amount is calculated on the basis of the gold franc approved since the signing in 1936 of the Montreux Convention governing navigation in the straits.

New Fees and Regulations

The newspaper added: “The Department of Maritime Affairs of the Turkish Ministry of Transport and Infrastructure has announced a new regulation for the payment of taxes and fees for non-stop passage through the Turkish Straits.

According to the Montreux Convention, the base value of the gold franc, approved in calculating the rates of taxes and fees levied on ships crossing the strait without calling at Turkish ports, will increase from July 1 by 8.3 percent, or up to $4.42.

Expected Revenue Increase

Thus, it is expected that the income from crossing the straits, not including pilotage and towing services, will reach 900 million dollars a year.

The newspaper notes that the value of the gold franc at the signing of the Montreux agreement was equivalent to 0.8 dollars, and in October last year, this value rose to 4.08 dollars.

Conclusion

The increase in fees for passage of ships through the Bosphorus and the Dardanelles is expected to have a significant impact on revenue generated from these straits. The Turkish authorities have increased the payment in the past and have now announced a new regulation for the payment of taxes and fees. It remains to be seen how this increase will affect shipping companies and trade routes that rely on these waterways for transportation.

Source: News

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