Suez Canal revenues reach $449m in early 2026 – chairman

Egypt’s Suez Canal generated $449 million from the transit of 1,315 vessels carrying 56 million tons in early 2026, marking a gradual recovery in traffic and revenues, according to Suez Canal Authority Chairman Osama Rabie.

During the first half of the 2025–2026 fiscal year, vessel transits rose by 5.8 per cent, net tonnage increased by 16 per cent, and revenues climbed by 18.5 per cent compared with the same period a year earlier.

Speaking at the opening of the 15th Annual International Maritime Transport and Logistics Conference (Marlog) on Sunday, Rabie linked the improvement to the canal’s ability to absorb successive economic and geopolitical shocks, including the Covid 19 pandemic, the grounding of the EVER GIVEN, the Russia-Ukraine conflict, and disruptions to navigation in the Red Sea and Bab Al Mandab.

He noted that 2024 represented a year of severe impact on canal traffic, while the final quarter of 2025 marked the start of a relative recovery following the restoration of regional stability after the Sharm El Sheikh Peace Summit and the ceasefire in Gaza.

Rabie added that the authority completed and brought into operation the southern sector development project, raising navigational safety by 28 per cent, alongside the modernisation of maritime services and the introduction of crew change, maritime ambulance, and marine rescue services.

He said the Suez Canal has repositioned itself as an integrated logistics system through comprehensive digital transformation, while the authority’s shipyards expanded the construction of auxiliary marine units under the Made in Egypt strategy, resulting in contracts to export two tugboats to Italy’s NERI.

Attribution: Amwal Al Ghad English