The Suez Canal achieves the highest historical return
The Suez Canal recorded the highest annual revenue in its history during the last fiscal year that ended last June, amid an improvement in navigation.
Osama Rabie, head of the Suez Canal Authority, said in a statement, Sunday, that the world's most important shipping lane recorded the highest annual return in its history at the end of last June, with a value of $5.84 billion, compared to $5.72 billion for the 2019/2020 fiscal year.
Rabie said that maritime traffic through the canal improved significantly as of early 2021 to 9,763 ships, compared to 9,546 ships on an annual basis, an increase of 2.3 percent.
And passes through the Suez Canal, about 12 percent of the total world trade, and the distance between east and west is shorter, by 35 percent compared to the Cape of Good Hope.
The channel’s revenues during the first half of 2021 amounted to $3 billion, compared to $2.76 billion during the same period last year, an increase of 8.6 percent.
Rabie said: "The flexible marketing and pricing policies adopted by the authority succeeded in maintaining the rate of ships crossing the canal and gaining the confidence of customers."
He added: "The granted incentives and reductions played a prominent role in achieving a boom in the increase in transit rates of LNG ships, container ships, car carriers and dry bulk ships in the first half."
Liquefied natural gas carriers increased by 24 percent, container ships by 9.7 percent, car carriers by 27.8%, and dry bulk ships by 5 percent during that period, according to the same source.