Suez Canal Authority (SCA) Chairman Osama Rabie announced that the Suez Canal’s revenues achieved an unprecedented record during the fiscal year (FY) 2022/21 reaching $7 billion which is the highest in its history, Al-Ahram reported.

He added that the net number of loadings also increased to its highest level during the year recording 1.32 billion tons compared to 1.19 billion tons in 2021/20. Rabie noted that a significant number of ships passed through the canal in 2022/21, reaching 22,032 ships compared to 19,047 ships in 2021/20. This reflected a historic leap in revenues 

The SCA’s Chairman said that the number of petroleum tankers ranked third among the ships that passed through the canal. Its number reached 5,451 with total load of 236,000 tons achieving revenues of $1.2 billion due to the increased demand on oil. Also, the number of liquefied natural gas (LNG) tankers recorded 886 ships with total loads of 97,000 tons achieving revenues of $435 million.

It should be noted that the Suez Canal’s revenues reached $5.8 billion during FY 2021/20.