Egypt

Egypt’s Suez Canal records all-time high monthly revenue of $704m

Published on : 2022-08-03

Egypt’s Suez Canal has recorded $704 million revenues during July, the highest monthly figures in its history. 

According to an official statement, it also recorded the largest monthly net tonnage of 125.1 million tons during July, compared to 105.8 million tons during the same period last year, said Osama Rabea, the chairman of the Canal Authority.

Rabea added that during July the canal witnessed transit of 2,103 ships from both directions, compared to the crossing of 1,670 ships during the same period last year.

In an interview with Asharq, the head of the authority said he expects trevenues of the Suez Canal will reach $7.5 billion to $8 billion this year, compared to $6.3 billion achieved in 2021.

He added this is supported by the increase in the number of oil and gas ships passing to Europe. 

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