Head of the Suez Canal Authority Osama Rabie announced, on Monday, that the navigation statistics in the canal during the fiscal year 2021/2022 set new and unprecedented records throughout the history of the canal.
Rabie said in a statement that the canal achieved the highest annual net tonnage for a fiscal year of 1.32 billion tons, and the highest annual financial revenue of US$ 7 billion, exceeding all previously recorded numbers.
Rabie said that navigational reports during the fiscal year 2022/2021 showed a significant increase in the number of ships transiting the canal, as 22,032 ships crossed the canal during that period compared to 19,047 ships transiting during the fiscal year 2020/2021, an increase of 2,985 ships, equal to 15.7 percent, while the total net tonnages across the canal amounted to 1.32 billion tons during the fiscal year 2021/22, compared to 1.19 billion tons during the fiscal year 2020/2021, with an increase of 130 million tons, and an increase of 10.9 percent.
He added that the increase in the number and tonnage of ships transiting the canal during the fiscal year 2021/2022 contributed to achieving a major boom in the revenues, achieving the highest annual financial return in the history of the canal of US$ 7 billion, compared to US$ 5.8 billion during the fiscal year 2020/2021, with an increase $1.2 billion, equal to 20.7 percent.
The head of the authority stressed that the unprecedented record results recorded by the trade movement transiting the Suez Canal during the fiscal year are the culmination of the success of the marketing policies.
These are pursued by the authority in attracting new shipping lines to cross from the Suez Canal, and a reflection of some global changes that led to an increase in the savings achieved by the Suez Canal compared to By alternative methods.
In light of the high prices of ship chartering and freight rates, the rise in oil prices, and the change in the world trade map as a result of the Russian-Ukrainian war.
The head of the authority stressed that the unprecedented record results recorded by the trade movement transiting the Suez Canal during the fiscal year are the culmination to the success of the marketing policies pursued by the authority in attracting new shipping lines to cross from the Suez Canal.
This is a reflection of some global changes that led to an increase in the savings achieved by the Suez Canal compared to alternative methods, in light of the high prices of ship chartering and freight rates, the rise in oil prices, and the change in the world trade map as a result of the Russian-Ukrainian war.
Rabie stressed that successive global crises proved beyond any doubt the leadership of the Suez Canal and its importance to ensure the stability and sustainability of global supply chains as the fastest, shortest and safest navigational routes.
He explained that this success came as a result of strategic planning, hard work, and continuous development of the navigation course, starting with the new canal project, passing through the ongoing project to develop the southern sector, so that the past few years became defining years in the history of the canal, witnessing many challenges and achievements.
