Suez Canal revenues increased 12.4% to $551.1M in October

CAIRO – 2 November 2021: The navigation statistics in the Suez Canal recorded unprecedented records during October 2021, achieving the highest monthly tonnage in the history of the canal, amounting to 112.1 million tons, according to head of the Suez Canal Authority, Osama Rabie.

Rabie added that the revenues of the Suez Canal during October 2021 achieved a significant increase of 12.4 percent, recording $551.1 million, compared to $490.2 million during October 2020, marking an increase $60.9 million.

The head of the authority indicated that the navigation statistics in the canal during October 2021 recorded the crossing of 1847 ships compared to the crossing of 1620 ships in October 2020, with a difference of 227 ships, with an increase of 14 percent.

“The total net tonnages amounted to 112.1 million tons, compared to 100.6 million tons during October 2020, with an increase of 11.4 percent,” he added.

The head of the authority attributed the significant increase in the navigation statistics in the canal during October 2021 to the results of the flexible marketing policies adopted by the Suez Canal in dealing with the various types of ships transiting the canal, especially liquefied natural gas carriers, referring in this regard to the navigational reports which recorded an unprecedented increase in the number and tonnage of LNG carriers transiting the canal, which amounted to 84 tankers during the October 2021, compared to the transit of 46 tankers during October 2020, with an increase of 82.6 percent.

He added that the net tonnages of LNG carriers increased by 87.5 percent, noting that the total net tonnages of LNG carriers during October 2021 amounted to 9.3 million tons, compared to 4.9 million tons during October 2020.