Suez Canal sees record monthly revenue in July

Egypt’s Suez Canal recorded its highest monthly revenues to date in July to $704 million, reaping $629 million in ship transit fees, said the canal’s authority chairman Osama Rabie on Tuesday.

The monthly revenues in July were 32.4 percent higher than $531.8 million in July 2021, Rabie added in a statement.

The vital waterway also saw the highest and unprecedented monthly levels in terms of tonnage and the number of vessels passing by, he added.

The total number of ships that passed through the 193 km (120 miles) waterway that links the Red and the Mediterranean seas climbed by 25.9 percent to 2,103 vessels, from 1,670.

Suez Canal also broke its highest monthly tonnage record as it reached 125.1 million tons in July 2022, up 18.2 percent from 105.8 million tons in July 2021, Rabie said.

They carried cargoes weighing in total 125.1 million tons, the highest monthly net cumulative payload to transit the waterway in July 2022, up 18.2 percent from 105.8 million tons in July 2021, he added.