Suez Canal revenues rise to $1.7B during Q1 of 2022

CAIRO - 3 April 2022: Egypt’s Suez Canal recorded revenues of $1.691 million during the first quarter of 2022, compared to $1.409 million during the same quarter of 2021, marking an increase of 20 percent, according to the Head of Suez Canal Authority (SCA)Osama Rabie.

 

Rabie, said Saturday, that the navigation statistics in the canal during the first quarter of 2022 recorded a remarkable increase in the number and tonnage of ships transiting the canal, and it has not been affected so far by the repercussions of the Ukrainian-Russian crisis.

 

He said, in a press statement, that the number of ships transiting the canal from January to March this year amounted to 5,303 ships, compared to 4,581 ships transiting during the same period last year, with an increase of 15.8 percent, or 722 ships

 

While the tonnage crossing the canal increased by 7.4 percent or 21.6 million tons, net loads recorded during the first quarter of this year were 313.3 million tons, compared to 291.7 million tons last year.

 

 

Head of the SCA  added that the navigational reports during the first quarter of 2022 monitored a significant increase in the transit rates of various types of ships compared to the same period last year, as the number of bulk vessels increased by 29.1 percent, and container ships transiting the canal increased by 17 percent.

 

Car carrier ships increased by 27.2 percent, and the number of cruise ships passing through the canal doubled on an annual basis. General cargo ships recorded an 18.1 percent increase, and tankers increased by 6.5 percent.

 

The head of the authority stressed that the navigational reports in the canal during the first quarter of this year and the increase in the average daily transit of ships transiting the canal during the last period clearly reflect the recovery witnessed by the maritime transport market, and the remarkable growth in the global trade movement, stressing the authority's keenness to deal with various challenges. facing the maritime transport market by adopting a package of flexible marketing policies through which it can keep pace with market changes and take into account the interests of customers.

 

The navigation statistics recorded during Saturday, the crossing of 74 ships, and 80 ships crossed the canal, Friday, with a total net tonnage of 9 million tons per year over the course of two days.