Middle East News: Suez Canal revenue hits all-time record – Gulf Digital News

Middle East News: Suez Canal revenue hits all-time record – Gulf Digital News

CAIRO: The head of the Suez Canal Authority, Osama Rabie announced yesterday that navigation statistics in the canal during last month set new and unprecedented records in its entire history.

The canal achieved the highest monthly revenue in the history of the canal amounting to $629 million, he explained in a statement, and the largest monthly net tonnage was $114.5m tons – exceeding all previously recorded numbers.

He pointed out that navigation movement in the canal during April saw 1,929 ships cross from both directions compared to the transit of 1814 ships during the same month of the last year – an increase of 115 ships, at 6.3 per cent.

Total net tonnages amounted to 114.5m tons (the largest monthly net tonnage in the history of the canal) compared to 110.2m during April of last year, a difference of 4.3m tons or an increase of 3.9pc.

He said that the revenues of the Suez Canal during April recorded $629m as the highest monthly revenue in the history of the canal, compared to $553.6m in April 2021, a difference of $ 75.4m, with an increase of 13.6pc.

Rabie added that navigational reports during April detected a significant increase in the rates of transit of various types