Egypt’s Suez Canal revenues climb 15.1% y-o-y in February: official

Egypt’s revenues from the Suez Canal, excluding the navigation services, surged 15.1 percent year-on-year to $545.5 million in February, said the canal’s authority chairman Osama Rabie on Tuesday.

Earlier, revenues – excluding the navigation services – recorded $474.1 million in February 2021.

In February this year, the vital waterway saw the highest monthly level ever in terms of the revenues, tonnage, and the number of vessels passing by, Rabie told reporters.

On Monday, Suez Canal Authority announced it would be raising canal tolls by up to 10 percent for laden and ballast vessels, effective March 1st. It said the decision was “in line with the significant growth in global trade, the improvement of ships’ economics, the Suez Canal waterway development and the enhancement of the transit service,”