The Suez Canal has earned the highest revenue in its history this year

In March, the revenue of the Suez Canal, which didn’t fall on the agenda of the world for six days because of the accident of the ship The Ever Given, in the 2020-2021 fiscal year was introduced.

Suez Canal Administration President Osama Rabi acknowledged in a written assertion that the revenue for the fiscal year ending in June was $5.84 billion, and this determine remained at $5.72 billion in the 2019-2020 fiscal year.

Noting that the maritime visitors in the canal has improved considerably since the starting of 2021, Rabi mentioned that the annual variety of ships passing by way of the canal elevated by 2.3 % from 9 thousand 546 to 9 thousand 763.


The revenue of the Suez Canal, which covers 12% of the world’s maritime commerce, in the first half of 2021, elevated by 8.6% to three billion {dollars} in comparison with 2.76 billion {dollars} in the identical interval final year.

Rabi emphasised that the versatile tariff and advertising coverage adopted by the Canal Administration managed to take care of the variety of ships passing by way of the canal and to realize the belief of consumers.

Rabi acknowledged that due to the incentives and reductions given, the passage of dry cargo, automotive, LNG and container ships The Ever Given elevated in the first half of the year.

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The big container ship The Ever Given crashed on the shore in the Suez Canal on March 24 because of lowered visibility as a result of sandstorms and unhealthy climate situations.

On account of the ship being caught in the slim channel and shutting the passageway, lengthy ship queues fashioned on each side of the canal and there have been disruptions in crude oil and LNG shipments as a result of the cessation of sea visitors.

The Suez Canal Administration introduced that, after 6 days of labor, on March 29, the efforts to drift the big cargo ship had been efficiently accomplished and the canal was opened to maritime visitors.

It was acknowledged that Egypt suffered a each day lack of roughly 12-14 million {dollars} at the moment.

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