New Suez Canal revenues record $27.2bn in five years

A total of 90,000 ships have passed through the New Suez Canal, with a net tonnage of 5.5bn tonnes, recording total revenues of $27.2bn, since its inauguration five years ago, Osama Rabie, Chairperson of the Suez Canal Authority, said

It came during the authority’s celebration of the New Suez Canal’s fifth opening anniversary in Ismailia.

Rabie pointed out that the plan of developing the national waterway is proceeding at a steady pace according to the specified schedule, and through several parallel steps.

He added that the year-to-date navigation reports reflect the role that the new canal played in maintaining the normal rates of shipping at the channel, despite the global challenges related to the spread of the novel coronavirus.

Since the start of the pandemic, a total 11,250 ships transited the Suez Canal, with a total tonnage of 693m tonnes, and revenues of $3.3bn.