The Suez Canal achieved the highest annual revenue in its history with $ 6.3 billion

The head of the Egyptian Suez Canal Authority, Lieutenant General Osama Rabie, revealed today, Sunday, that navigation statistics in the canal during the Gregorian year 2021 recorded new and unprecedented record in its history, achieving the highest annual revenue in the history of the canal of $ 6.3 billion, and the largest annual net cargoes of 1.27 billion tons, surpassing all previously recorded figures.

The head of the Authority said in a statement that the navigation movement in the canal in the year 2021 saw the transit of 20,694 ships from both directions, compared to the transit of 18,830 ships in the year 2020, a difference of 1864 ships, an increase of 10 %.

He added that the total net tonnage was 1.27 billion tons, up from 1.17 billion tons in 2020, a difference of 100 million tons, an increase of 8.5%.

He explained that the revenues of the Suez Canal during the Gregorian year 2021 recorded a significant increase of 12.8% in its revenues. in Dollars, as the channel’s revenues recorded $ 6.3 billion, compared to $ 5.6 billion in the year 2020, an increase of $ 720 million.

The head of the Authority stressed that the indicators related to the volume of trade in transit through the Suez Canal (pictured in net tons) managed to outstrip the rates of growth in world trade growth rates.

He explained that although the rate of increase in the volume of global maritime trade during 2021 according to Clarksons was 3.7%, the increase in the volume of global trade passing through the channel was approximately 8.5%. and the volume of container trade passing through the channel increased by 7.2% during the year 2021, while the rate of increase in the volume of container trade globally was 6% over the same period.

The percentage increase in the volume of trade in bulk goods passing through the canal was 19.5%, compared to 4.1%, which is the percentage of the global increase in the volume of trade in bulk goods during 2021.

He pointed out that navigation reports during the Gregorian year 2021 monitored a significant increase in transit rates of various types of ships compared to 2020, as the number of LNG carriers increased by 36.6% from 686 vessels in 2020 to 937 ships in 2021 and container ships in transit through the canal increased by 10.1%, bringing the total number to 5,186 container ships compared to 4,710 ships in 2020.

The rate of increase in the number of bulk ships reached 15.3%, with 5893 ships, compared to 5,113 ships in Transit in 2020, an increase which was reflected in the achievement of a boom in the general indicators of bulk ships in transit as the highest rate recorded in the history of the Canal, achieving the highest revenue as its revenue broke the $ 1 billion barrier in the history of the Suez Canal for the first time and also acquired about 15.7% of total world trade of wheat via sea ​​with a total amount of 83.5 million tons of cargo.

Lieutenant General Rabie stressed that the rate of return indicators in 2021 reflect the success of the flexible marketing and pricing policies pursued by the authority to gain the confidence of the shipping community and address in flexibly changes occurring in the shipping sector, in in light of the challenges of the emerging Corona virus crisis, which resulted in the highest ship attraction rate of 4,920 ships and the largest marketing policy revenue since its implementation of $ 1.1 billion total channel revenue during 2021. Marketing efforts in general played an important role in increasing the number of ships crossing the channel for the first time and in achieving a record unprecedented crossing 1,532 ships, generating $ 597.6 million in revenue.

He explained that these unprecedented indicators go hand in hand with delivering promising results in terms of results of the various axes of the Authority’s ambitious 2023 development strategy, guided by the development of the navigation course, indicating in this regard the total dredging rates in the development project of the southern sector of the canal, which amounted to 7.6 million cubic meters of water-saturated sand, about 6.5 million cubic meters of water-saturated sand were removed in the canal duplication project in the Lesser Bitter Lakes from km 122, numbering channel, to km 132, numbering channel, and about 1.1 million cubic meters of saturated sand were removed from the water in the expansion project The deepening from the quantum numbering of channels 132 to the quantum numbering of channels 162.

Commenting on the efforts made by the authority in addressing the challenges it faced during the year 2021, the chairman of the authority stressed that the Suez Canal has spared no effort to serve the global shipping community despite the challenges related to the emerging coronavirus crisis, in how much the initiative had been taken in solidarity with the appeals and initiatives of the International Maritime Organization (IMO) To help solve the problem of replacing maritime crews stranded by the pandemic by granting passenger ships carrying maritime crews a 15% reduction in supporting the initiative.

He added that the Suez Canal managed to manage in efficiently and effectively the delinquency crisis of the gigantic Panamanian container ship EVER GIVEN, which has obtained numerous international acclaim, in particular praise from the International Maritime Organization (IMO), where the authority introduced the use of dredging for the first time in maritime rescue operations, and managed to float the ship in safety without causing any death, both for any loss to the ship’s hull and for the cargo carried on it.

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