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Suez Canal’s revenues leap to $7bn in FY21/22

Suez Canal’s revenues leap to $7bn in FY21/22
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Cairo – Mubasher: The revenues of Egypt’s Suez Canal have amounted to $7 billion during fiscal year (FY) 2021/2022, Osama Rabie, Chairman of the Suez Canal Authority (SCA), announced on Monday.

The FY21/22 revenues were the highest recorded in SCA history, surging by $1.20 billion (20.70%) from $5.80 billion in the previous FY.

Rabie noted that the canal’s net tonnage increased by 130 million tonnes (10.90%) to 1.32 billion tonnes in FY21/22, compared to 1.19 billion tonnes in FY20/21.

Meanwhile, the number of vessels passing through the canal reached 22,032 during FY21/22, an annual growth of 15.70% from 19,047 ships.

Last May, the canal generated $657 million in revenue, which marked an annual jump of 23%.