Suez Canal revenues climb 35% to $9.4 bln in FY2022/23

Suez Canal revenues hit a record $9.4 billion, or 35 percent, during 2022–2023, compared to $7 billion during 2021–2022, according to figures released by the Suez Canal Authority’s (SCA) Chairman on Wednesday.

Osama Rabie has explained that the channel’s revenues have seen a steady rise over the past years, increasing from $5.7 billion in 2019–2020 to $5.8 billion in 2020–2021.

Last March 13, the canal saw the highest rate of ship crossing with over 107 vessels, with 6.3 million tons of net cargo and $41.7 million in revenue.

Rabie further noted during a meeting held by SCA that the rate of vessel transit had risen from 16 and 17 thousand vessels yearly to 25,887 thousand vessels over the past financial year 2022–2023.