Suez Canal revenues hike by 38.5% in March

Egypt’s Suez Canal Authority (SCA) said in its data that Suez Canal’s revenues have hit a record high, increasing by 38.5 percent in March, according to state’s information portal showed on Wednesday.

The figures show total of 2,191 ships carrying 129 million tons have passed through the canal in both directions in March, after being 1,816 vessels carrying 107 million tons in 2022.

SCA has set a target to increase the canal’s revenues to $9 billion in 2023, said the its chairman, Osama Rabie, as the canal’s total revenues rose by 40.6 percent, reaching $2.382 billion in the Q1 of 2023, after being $1.694 billion in Q1 2022.