Suez Canal revenues rise 15.1% to $545.5m in February

Suez Canal revenues rise 15.1% to $545.5m in February

Head of the Suez Canal Authority, Osama Rabie, announced that there is an increase in the revenues generated by the Suez Canal by 15.1% in February 2022. The revenues amounted to $545.5m this February, compared to $474.1m in February 2021, marking an increase of $71.4m. 

Rabie stated that the navigation movement in Suez Canal during February 2022 achieved new records in terms of vessel transit rates and net tonnage by crossing 1713 vessels from both directions, with a total net tonnage of 100.1 million tons, compared to the crossing of 1532 vessels during the month of February of last year, with a total net tonnage amounting to 97.6m tons. 

He also reported that navigational reports during this February marked a significant increase in the transit rates of various types of ships compared to the same month last year, as the number of bulk vessels increased by 29%, and container ships transiting the canal increased by 11.8%, while the rate of increase of car carrier vessels reached 22.2%.

Also read: The Ever Given Is Dislodged From the Suez Canal and Sailing

If you see something out of place or would like to contribute to this story, check out our Ethics and Policy section.