Egypt’s Suez Canal revenues hit record $5.84 billion in FY2020/21

Egypt’s revenues from the Suez Canal rose to a record $5.84 billion in the 2020-2021 financial year, up from $5.72 billion in the previous year, the canal authority said in a statement on Sunday.

Despite the grounding incident of giant ship Ever Given in late March, revenues in the first six months of the year also surged to around $3 billion from $2.76 billion in the same period in 2020, the Suez Canal Authority (SCA) added.

On March 23, Ever Given container ship blocked the canal for six days and disrupted global trade and shipping. It was allowed to leave the canal earlier this month after the SCA reached a settlement with its Japanese owner.

The SCA statement added in its statement that the number of ships that passed through the Suez Canal rose to 9,763 vessels in the first half of 2021 from 9,546 ships during the same period last year.