Turkey increases Turkish Straits passage fee by 15%

The Turkish government is to raise the transit fee for international vessels passing through the Bosphorus and Dardanelles Straits, also known as Turkish Straits, which connects the Mediterranean to the Black Sea.

The fee will be increased by 15 percent to $5.83 per tonne from July 1, Hurriyet Daily News reported quoting transport and infrastructure minister Abdülkadir Uraloğlu.

Around 3 percent of global crude oil trade passes through the Turkish Straits, according to the latest data from the US Energy Information Administration.

This compares to around 20 percent for the Strait of Hormuz, off the coast of Iran, which has become a focal point due to escalating tensions in recent days between Iran and Israel.

The Montreux Convention grants Turkey the right to set passage fees, the minister said, adding that fees have been reviewed annually since 2022.

The fee remained fixed at $0.8 for 39 years, the news report said.

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The money generated is used to improve the necessary infrastructure and ship traffic monitoring systems to ensure maritime safety and security, Uraloğlu said.

The Turkish Straits is one of the world’s most hazardous narrow waterways due to several sharp and blind bends.

Despite the dangers, 51,058 ships passed through the Bosphorus and Dardanelles Straits last year.

Almost $227 million were collected in fees, the minister said.