Turkey’s Strait Fee Hike Will Pile More Pressure on Global Trade, Economist Warns

Turkey is raising its strait transit fees by 15% from July 1, 2026 and a leading Turkish economist says the timing could not be worse, with global shipping already on edge over the Strait of Hormuz crisis.

Turkey Raises Strait Transit Fees for the First Time in Decades

Turkey will hike the so-called “gold franc” the base unit used to calculate transit fees for ships passing through the Bosphorus and Dardanelles by 15% starting July 1, 2026. The rate moves from $5.83 to $6.70 per unit. This increase is part of a phased tariff revision that Ankara launched in 2022 ending nearly four decades of frozen pricing on one of the world’s busiest maritime corridors.

Turkish authorities justify the move as essential. They say the new rates will cover rising costs for maritime safety operations, rescue services, and strait infrastructure maintenance. The Bosphorus and Dardanelles together handle tens of thousands of vessel transits every year making them a critical artery connecting the Black Sea to global shipping lanes.

Economist: Higher Tariffs Hit Shipping at the Worst Possible Moment

Turkish economist Dilruba Taşkın warned that the fee increase will land at a particularly sensitive time for global trade. The Strait of Hormuz another pivotal chokepoint for energy shipping remains wrapped in uncertainty. That backdrop makes any added cost on alternative routes far more consequential.

“In conditions of ongoing risks to shipping through the Strait of Hormuz, any increase in transit costs through the Turkish straits will inevitably affect logistics expenses and freight rates. This could place additional pressure on prices in international trade,” Taşkın said.

She noted that Turkey’s decision to raise strait fees coincides with a period of heightened market sensitivity especially around maritime logistics and energy security. Market players are watching every key trade corridor linking Europe, the Middle East, and Asia with unusual intensity.

Bulk Cargo and Energy Shippers Will Feel It Most

According to Taşkın, carriers of bulk goods and energy commodities will bear the sharpest impact from the new tariff structure. She added that the extra costs will at least in part eventually pass through to shippers and end consumers. The full scale of that effect, she noted, will depend on broader conditions across global freight markets.

The economist also stressed that the Turkish straits remain among the most strategically vital maritime corridors on the planet. Tens of thousands of ships pass through annually which means any shift in Ankara’s tariff policy draws immediate attention from international businesses and insurers alike.

What the Montreux Convention Says

The Montreux Convention guarantees commercial vessels freedom of passage through the straits during both peacetime and wartime though different rules apply for military ships. It restricts warships from non-Black Sea nations to a maximum 21-day stay in the Black Sea.

In emergency situations, Turkey holds the right to ban or restrict the passage of military vessels through the Bosphorus and Dardanelles. Ankara also retains the authority to charge for lighthouse services, rescue operations, and medical assistance to ships transiting the straits.