Suez Canal revenues forecast to hit $10b by FY2027/2028 – chairman

Egypt’s Suez Canal Authority expects revenues of $8 billion in 2026/27 and $10 billion in 2027/28, Chairman Osama Rabie said Monday during a meeting with an International Monetary Fund (IMF) delegation led by Ivanna Vladkova Hollar.

Rabie noted that the canal generated $40 billion in revenues between 2019 and 2024 and praised the Sharm El-Sheikh Summit for restoring stability in the Red Sea. He highlighted the canal’s resilience through crises including the COVID-19 pandemic, the Ever Given blockage, the Russia–Ukraine conflict, and recent regional tensions, crediting flexible policies, proactive client communication, and dynamic marketing.

Since July, 5,874 ships have transited the canal, carrying 247.2 million tons of cargo and generating $1.97 billion, a 17.5 per cent increase in revenues compared with the same period last year.

Rabie also outlined plans to diversify income and expand maritime services, including fish farming, industrial facilities, tugboat manufacturing, a petrochemical complex, and urban development projects in canal cities.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser