Suez Canal revenues jump 15.1% to $545.5M in February

CAIRO - 1 March 2022: Osama Rabie, head of the Suez Canal Authority, announced, Tuesday, an increase in the revenues generated by the Suez Canal by 15.1 percent during February 2022.

 

Rabie said that revenues amounted to $545.5 million (not including navigation services) during February 2022, compared to $474.1 million during the same month last year, marking an increase of $71.4 million.

 

He pointed out that the navigation movement in the canal during  February 2022 recorded new and unprecedented records in terms of vessel transit rates and net tonnage by crossing 1713 vessels from both directions, with a total net tonnage of 100.1 million tons, compared to the crossing of 1532 vessels during the month of February of last year, with a total net tonnage amounting to 97.6 million tons.

 

Rabie explained that the performance rates during February 2022 are the highest compared to the same month over the successive years throughout the history of the canal, which was reflected in the increase in the revenue generated by 15.1%, recording $545.5 million (not including navigation services) during the month of February 2022, compared to $474.1 million during the same month last year, with an increase of $71.4 million.

 

He added that navigational reports during February 2022 monitored a significant increase in the transit rates of various types of ships compared to the same month last year, as the number of bulk vessels increased by 29 percent, and container ships transiting the canal increased by 11.8 percent, while the rate of increase of car carrier vessels reached 22.2 percent.