Suez Canal Revenues Increase 16% on Annual Basis

Osama Rabie, Chairman of the Suez Canal Authority announced that the revenues of the Suez Canal during the month of April increased by 15.8%, year-on-year.

This came during President Abdel Fattah El-Sisi's visit to inaugurate a number of projects related to the Suez Canal Authority projects.

Rabie added that the canal recorded revenues of $551 million in April compared to $476 million, year-on-year. He added that the canal received about 1814 ships compared to 1731 ships during April 2020, a rise of 4.8%.

He pointed out that the tonnages of ships passing through the Suez Canal rose to 110 million tons, compared to 102 million tons during the same month last year, with an increase of 8%.

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Rabie announced the opening of the first phase of Port Said water station with a capacity of 80,000 cubic meters at a cost of EGP 180 million to raise the station's capacity to 480,000 cubic meters per day, sufficient for Port Said's needs until 2038.

A pilot station was also inaugurated within 16 stations along the navigational course as part of the digital transformation project. The station is equipped with the latest navigation monitoring and control systems. It is linked to the main centers for monitoring navigation traffic through the unified network system at the Suez Canal.