Osama Rabie, President of the Suez Canal Authority, announced in an interview with Egyptian television on Wednesday that Egypt's revenues from the canal increased by 12.4% year-on-year to $4.862 billion from the beginning of the year until October 12. Revenues from the Suez Canal grew by 11.6% during the first eight months of the current year, reaching $4.1 billion, compared to $3.7 billion in the same period last year.
Rabie stated that the number of ships that transited the canal from January to August 2021 was 13,300 vessels, compared to 12,500 vessels in the same period last year, marking a growth rate of 6.7%. He added that the total net tonnage increased by 7% during the period, reaching 826.1 million tons, compared to 772.2 million tons in the same period last year.
On the 29th of last month, the canal recorded its highest daily transit rate in history, with 87 ships passing through from both directions without waiting. Rabie reported in a press statement that the total tonnage of the vessels that transited that day was a net of 4.8 million tons. A total of 38 ships transited the canal from the north with a net tonnage of 2 million tons, while 49 ships passed from the south through the new canal channel with a total net tonnage of 2.8 million tons.
The authority's president confirmed the readiness of the Suez Canal to handle the various changes in global trade movement following the increase in the canal's numerical and capacity capabilities thanks to the New Suez Canal Project.
