Turkey raises Bosphorus and Dardanelles transit fees 15% to $6.70 per net tonne from July 1
The annual Montreux Convention indexation pushed fees from $5.83 to $6.70 per net tonne; a 10,000-tonne vessel now pays roughly $25,000 per passage, compounding post-Iran-war shipping costs as Turkey hosts the NATO summit
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Summary
Turkey raised its transit fees for the Bosphorus and Turkish Straits Dardanelles from $5.83 to $6.70 per net tonne effective July 1, 2026, a 15 percent increase applied under the Montreux Convention's annual cost-recovery indexation mechanism. A 10,000-net-tonne vessel now pays approximately $25,000 per passage, up from roughly $21,750. The rate was announced June 19 and takes effect simultaneously with Turkey's NATO summit hosting duties. The schedule holds through June 30, 2027, when the next annual review occurs. Shipping associations including BIMCO had flagged concerns about the pace of cumulative increases, which have made the Bosphorus one of the most expensive chokepoint transits globally for bulk carriers.
The split
Turkey frames the increase as routine Montreux Convention cost recovery, citing inflation and operational expenses. Shipping associations warn that cumulative increases since 2020 are pushing some bulk-cargo operators toward longer routes, with Ukraine grain and Russian oil exports among the affected trades. Russia, the largest single user category for Bosphorus transit, has not publicly objected, reflecting its strategic interest in maintaining Turkish neutrality on Montreux Convention administration.
By the numbers
- $6.70 per net tonne, new Bosphorus/Dardanelles transit fee from July 1
- $5.83, prior fee (15.1% increase)
- $25,000, approximate total transit cost for a 10,000-net-tonne vessel (up from $21,750)
- ~41,000 vessels per year, approximate annual traffic through the Turkish Straits
- July 1, 2027, next rate review date
Why it matters
The Bosphorus and Dardanelles are the only egress from the Black Sea to the Mediterranean. Fee increases compound the post-Iran-war shipping cost environment and reinforce Turkey's economic leverage over Black Sea trade, a position Ankara has maintained throughout the Ukraine conflict and used as quiet geopolitical currency with both Russia and NATO partners.
What to watch
- BIMCO and INTERCARGO formal responses, and whether a Montreux Convention review is requested
- Whether Russia objects diplomatically if cumulative costs exceed a threshold for its Black Sea export economics
- Impact on Ukrainian grain export volumes and competitiveness through the second half of 2026
- Whether Turkey files a further mid-year adjustment as the inflationary basis allows