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The Suez Canal achieved the highest monthly revenue in its history with an annual increase of 32.4 percent. The revenue topped US $704 million during July 2022, up from US$531.8 million during the same month of 2021
The Suez Canal achieved the highest monthly revenue in its history with an annual increase of 32.4 percent. The revenue topped the US $704 million in July 2022, up from US$531.8 million during the same month of 2021. This data was released by the head of the Suez Canal Authority (SCA), Osama Rabie.
The navigation statistics in the canal during the month of July 2022 recorded new highs achieving the highest monthly transit rate in the history of the canal. A total of 2,103 ships passed through the canal, registering the highest monthly net tonnage in the history of the canal record at 125.1 million tons. The increase in tonnage was the main reason for the revenue increase in July.
The navigation movement in the canal during July 2022 witnessed the transit of 2103 ships from both directions compared to the crossing of 1670 ships during July 2021, registering a difference of 433 ships, marking an increase of 25.9 percent. The total net tonnage increased by 18.2 percent or 19.3 million tons, reaching 125.1 million tons compared to 105.8 million tons during July 2021.
There was a significant boom in the transit rates of various types of ships during July 2022 on an annual basis. The number of oil tankers increased by 60.2 percent to achieve the highest monthly revenue of oil tankers ever, amounting to US$153 million.
The number of LNG tankers also increased by 31 percent to achieve the highest monthly revenue for LNG tankers in the history of the canal, amounting to US$52 million. The bulk ships increased by 21 percent, achieving the highest monthly revenue for the bulk ships in the history of the canal, amounting to $121 million. According to the statement, the transit rates of container ships transiting the canal increased by 8.8 percent, achieving the second highest monthly revenue of $314 million.
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In July, Suez Canal achieved its highest annual revenue in its history during the fiscal year 2021/22 at US$7 billion, compared to US$5.8 billion in 2020/21, marking an increase of 20.7 percent.
