Suez Canal navigation returns to normal after major efforts by Egypt

CAIRO - 29 December 2023: The number of global shipping companies that have notified the Suez Canal Authority of their intention to resume their voyages in the Red Sea via the Suez Canal has increased, following the major efforts made by Egypt in this regard.

Shipping companies have confirmed that the navigation of the Suez Canal is stable and that it is the shortest maritime passage in the world.

The Suez Canal Authority announced that the Danish shipping company Maersk has announced the resumption of its voyages through the Suez Canal, as a gateway for trade between Asia and Europe. Taiwanese company Evergreen and French company CMA CGM also announced their return to navigation in the Suez Canal, and notified the Suez Canal Authority of their return to navigation early next week.

According to data from the Central Agency for Public Mobilization and Statistics, the total number of ships passing through the Suez Canal has increased significantly in recent months. In October 2023, the total number of ships was 2,345, compared to 2,131 in the same month of 2022, an increase of 10%.

In October 2023, there were 705 oil tankers, compared to 590 in the same month of 2022, an increase of 115 oil tankers.

According to data from the Central Agency for Public Mobilization and Statistics, revenue from the Suez Canal increased slightly in October 2023. It reached LE 27.2 billion, up from LE 26.4 billion in September 2023, an increase of LE 800 million.

Data from the Central Agency for Public Mobilization and Statistics shows that revenue from the Suez Canal in October 2023 increased from LE 14.3 billion in the same month of 2022, an increase of LE 12.9 billion.

In previous statements, Osama Rabie, chairman of the Suez Canal Authority, confirmed that the navigation channel of the Suez Canal is a safe navigation channel and that 12% of global trade passes through it. He also pointed out that the Suez Canal is the fastest navigable maritime artery from east to west.