Suez Canal ranks 2nd among largest logistics companies in Middle East: Forbes

CAIRO – 12 October 2021: Forbes announced the selection of the Suez Canal Authority, among the list of the 10 largest logistics institutions in the Middle East for the year 2021.

The Suez Canal Authority came in second place in the classification, according to Forbes statement.

The methodology of selecting the institutions and companies on the list was adopted on several bases, the most important of which is evaluating the company’s size in terms of assets, revenues and market value, in addition to determining the percentage of trade movement enabled by the company and its economic importance, as well as calculating the quantity of transported or stored goods, according to the statement.

For his part, Osama Rabie confirmed that the selection of the Suez Canal Authority is a culmination of the authority's efforts and success in overcoming many challenges and crises it faced throughout the year, most notably the pandemic of the emerging Corona virus "COVID-19" and the crisis of the delinquency of the giant Panamanian container ship EVER GIVEN.

The Chairman of the Authority stressed that the boom that the Suez Canal and its projects witnessed during the past few years would not have been achieved without the permanent support of President Abdel Fattah El-Sisi, President of the Republic, and his keenness to follow up on developments related to the development of the waterway development projects and the various development and service projects adopted by the Authority.

Rabie saluted the authority’s workers in all work sites who were up to the responsibility and presented a unique model in sincere national work in various circumstances so that the Canal’s banner remained high.

The list of the 10 largest logistics institutions includes a group of the most important institutions working in the field of transport and logistics in the Middle East, including DP World, the General Authority of Ports, Asyad Group and others.