BusinessMain Slider

Suez Canal Authority says it has made unprecedented records during April

The head of the Suez Canal Authority, Osama Rabie announced on Sunday that navigation statistics in the canal during April set new and unprecedented records in its entire history.

The canal achieved the highest monthly revenue in the history of the canal amounting to US$629 million, he explained in a statement, and the largest monthly net tonnage was $114.5 million tons – exceeding all previously recorded numbers.

He pointed out that navigation movement in the canal during April saw 1,929 ships cross from both directions compared to the transit of 1814 ships during the same month of the last year – an increase of 115 ships, at 6.3 percent.

Total net tonnages amounted to 114.5 million tons (the largest monthly net tonnage in the history of the canal) compared to 110.2 million during April of last year, a difference of 4.3 million tons or an increase of 3.9 percent.

He said that the revenues of the Suez Canal during April recorded $629 million as the highest monthly revenue in the history of the canal, compared to $553.6 million in April 2021, a difference of $ 75.4 million, with an increase of 13.6 percent.

Rabie added that navigational reports during April detected a significant increase in the rates of transit of various types of ships compared to the same month last year.

The number of tankers increased by 25.8 percent, container ships transiting the canal increased by nine percent, the percentage of LNG carriers increased by 12 percent, and the number of car carriers increased by 6.6 percent.

Suez Canal revenues witnessed a remarkable increase despite various challenges, Radie noted.

Navigation statistics from January to April reached $2.3 billion, compared to two billion dollars during the same period last year, an increase of 18.4 percent or a difference of $360.4 million.

The head of the authority explained that current indicators of the canal’s navigation movement give a clear view of the vital role the canal has in ensuring the sustainability and stability of supply chains even amidst current global challenges.

Related Articles

Back to top button