According to the Chairman of the Suez Canal Authority (SCA), Osama Rabie, the Suez Canal achieved a new milestone in its revenue, reaching a record-breaking $9.4 billion during the period of 2022–2023. This represents a significant increase of 35 percent compared to the previous year’s revenue of $7 billion in 2021–2022. The Suez Canal has witnessed consistent growth in its revenues over the past few years, starting from $5.7 billion in 2019–2020 and reaching $5.8 billion in 2020–2021.
On March 13 of the same year, the canal experienced its highest rate of ship crossings, with over 107 vessels passing through. These vessels carried a total net cargo of 6.3 million tons, generating a revenue of $41.7 million.
During a meeting held by the SCA, Rabie also highlighted the substantial increase in vessel transit rates. Over the course of the fiscal year 2022–2023, the number of vessels crossing the canal rose from an average of 16 to 17 thousand vessels annually to an impressive 25,887 vessels.
