Suez Canal Annual Revenue Reaches Record-High
The Suez Canal Authority announces that the canal's revenues increased to $5.84 billion during Fiscal Year 2021, compared to $5.72 billion in the previous fiscal year.
-
The first two quarters of this year saw an increase in cross-canal net tonnage.
The Suez Canal Authority announced that the canal's revenues increased during Fiscal Year 2021, to $5.84 billion, compared to $5.72 billion in Fiscal Year 2020.
According to a statement issued on Sunday by the Suez Canal Authority, this figure represents the highest annual revenue in the canal's history.
The statement indicated that the navigation data during the first two quarters of 2021 recorded a noticeable increase in the number and tonnage of ships transiting the canal.
The statement also highlighted that the first half of this year witnessed an increase in net tonnage transiting the canal by 3.8% (610.1 million tons), compared to 587.7 million tons during the same period last year - a difference of 22.4 million tons.
The statement considered that the "flexible" marketing and pricing policies followed by the authority played a role in maintaining ships' transit rates in the waterway and gaining customers' trust.
During the first half of this year, navigation in the Suez Canal was booming, as 9,763 ships transited, compared to the 9,546 ships that transited during the same period last year. This made a noticeable difference of 217 ships, which is a 2.3% increase.
In March, Ever Given, which weighs 220,000 tons, is 400 meters long and 59 meters wide, blocked the Suez Canal due to strong winds. Several attempts to re-float the container ship failed.
