Suez Canal seeks to acquire 15% of world trade traffic

CAIRO - 6 June 2022: Volume of ships passing through the Suez Canal has reached 12 percent of the global trade movement, Head of the Suez Canal Authority (SCA), expressing the SCA’s hope to raise this percentage to 15 percent.

 

Osama Rabie added, during a TV interview, that 80 ships are scheduled to pass through the Canal on Monday, and the number is targeted to reach 100 ships per day.

 

The head of the Suez Canal Authority revealed that the tonnage of the 80 ships that will cross the Suez Canal, Monday, is 2 million tons, adding that if there was no new Suez Canal, the number of ships transiting would have decreased.

 

“It is expected to achieve $7 billion in revenues during 2022,” The head of the authority added, noting that President Sisi is constantly following up on developments in the Suez Canal.

 

Rabie added that last Friday, a natural gas ship with a height of 69.5 meters and a draft of 18.5 meters crossed the canal, which is an underwater building, and it represented a challenge for Egypt, but the authority studied the issue and succeeded in the matter, pointing out that the canal is capable of accommodating all Giant ships.

 

Osama Rabie denied the validity of the interference of any non-Egyptian administration in the Suez Canal, pointing out that since the Egyptians restarted the Suez Canal, 900,000 ships passed with revenues of $131 billion.

 

The head of the Suez Canal Authority indicated that the Ukrainian war crisis had a positive impact on the transit of the Suez Canal, and the canal was able to achieve higher revenues than last year and increased traffic.

 

The Suez Canal achieved the highest monthly revenue in its history during May, marking an increase of 23 percent on a year on year basis, to reach $657 million, according to head of the Suez Canal Authority, Osama Rabie's previous statements.