Osama Rabie: Suez Canal achieves the highest annual revenue in its history

Osama Rabie: Suez Canal achieves the highest annual revenue in its history

Head of the Suez Canal Authority Osama Rabie announced, on Monday, that the navigation statistics in the canal during the fiscal year 2021/2022 set new and unprecedented records throughout the history of the canal.

Rabie said in a statement that the canal achieved the highest annual net tonnage for a fiscal year of 1.32 billion tons, and the highest annual financial revenue of US$ 7 billion, exceeding all previously recorded numbers.

Rabie said that navigational reports during the fiscal year 2022/2021 showed a significant increase in the number of ships transiting the canal, as 22,032 ships crossed the canal during that period compared to 19,047 ships transiting during the fiscal year 2020/2021, an increase of 2,985 ships, equal to 15.7 percent, while the total net tonnages across the canal amounted to 1.32 billion tons during the fiscal year 2021/22, compared to 1.19 billion tons during the fiscal year 2020/2021, with an increase of 130 million tons, and an increase of 10.9 percent.

He added that the increase in the number and tonnage of ships transiting the canal during the fiscal year 2021/2022 contributed to achieving a major boom in the revenues, achieving the highest annual financial return in the history of the canal