Suez Canal revenues rise to $5.1B in 10 months

CAIRO – 27 October 2021: Revenues of the Suez Canal witnessed a remarkable increase, during the period from the beginning of January to October 25 of 2021, achieved $5.1 billion, compared to $4.53 billion during the same period of 2020, according to head of the Suez Canal Authority, Osama Rabie.

The head of the authority said in a statement, Wednesday that the rate of increase in revenues amounted to 12.6 percent.

This came when Osama Rabie, head of the Suez Canal Authority, received a high-level delegation of ambassadors from a number of IMO member states.

Rabie sent a message of reassurance regarding the regularity of the navigation movement in the canal and the increase in the number and tonnage of ships transiting the canal, despite the global challenges caused by the novel coronavirus (COVID_19) pandemic.

He pointed out that the navigation movement in the canal from the beginning of January to October 25, 2021 witnessed the transit of 16,661 ships, compared to the transit of 15,310 ships during the same period 2020, an increase of 8.8 percent, while the net tonnages transiting the canal increased during the same period of this year by 8.5 percent, amounting to one billion 29 million tons, compared to 948.4 million tons during the same period last year.