Suez Canal revenues jump 94% YoY in October to $724m – chairman

Egypt’s Suez Canal revenues rose 94 per cent year-on-year to $724 million in October, as vessel traffic reached its highest monthly level since the outbreak of the Red Sea crisis, Chairman Osama Rabie said.

A total of 1,490 vessels with a combined net tonnage of 88 million tons transited the canal, compared with 1,128 vessels carrying 47 million tons in October 2025. This represents increases of 32 per cent in vessel numbers and 86 per cent in net tonnage.

Speaking at a discussion session organised by the Egyptian Businessmen’s Association on Thursday, Rabie said the canal’s performance was improving despite regional geopolitical challenges, expressing optimism about the continued return of international shipping lines.

He also highlighted efforts to diversify the authority’s revenue sources through new maritime and logistics services, local and international partnerships, and the localisation of marine vessel manufacturing for export under the “Made in Egypt” slogan.

The authority has expanded services to include waste collection, ship maintenance and repair, maritime rescue, marine ambulance services, and pollution control.

Meanwhile, representatives of the business and shipping sectors called for stronger private-sector partnerships, expanded digital services, and improved communication with shipping companies.

Kjeld Christensen, CEO of Suez Canal Container Terminal, said the return of container shipping services reflected the authority’s efforts to maintain communication with international shipping lines, positively affecting terminal operations.

Marwan El-Sammak, Chairman of Hapag-Lloyd in Egypt, said the canal would remain the most sustainable maritime route due to its shorter distances, reduced carbon emissions, and faster voyage times.