Egypt's report for logistics and shipping services for the first quarter of this year expects the cargo tonnage of the Suez Canal to exceed 1.3 billion tons in 2026, over the medium term between 2022 and 2026, according to a report issued by Fitch Solutions.
The report indicated that the Suez Canal is expected to record steady growth, with cargo tonnage increasing at an average rate of 6.4% year on year, indicating the continued positivity of maritime freight in Egypt.
The “Fitch Solutions” index indicated that Egyptian shipping will witness a great boom due to growth supported by investment in the hydrocarbon sector, new manufacturing areas and LNG exports.
Port Said port is the largest container port in the country and benefits from its location at the entrance to the Suez Canal. The port sector in Egypt has also benefited from the importance of the Suez Canal as an essential link in the global supply chain.
Many international shipping companies are directly connected to the country's ports, and thus the maritime supply chains are well developed and provide efficiency and low costs.
The Logistics report showed that shipping companies benefit from the high capacity to carry containers and a wide range of logistics services in Egypt, and the expansion of one of the busiest shipping routes in the world will enhance trade and increase job opportunities throughout the country.
Egypt's report for logistics services revealed that the amount of Suez Canal shipping tonnage will exceed 1 billion tons during the current year.
The report indicated that the cargo of the canal will grow by 5.9%, achieving 1.2 billion tons in 2024, compared to the previous year, which achieved only 1.14.
According to data, it is expected that the cargo tonnage of the Suez Canal will continue to increase in 2025, but at a low growth rate estimated at 2.7%, or 1.24 billion tons.
Fitch expects the canal shipments to reach 1.27 billion tons in 2026, a growth rate of 2.8%, compared to the previous year.
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