Despite the challenges facing the canal during the period, the authority posted a record-high revenue of $5.84 billion during fiscal year (FY) 2020/2021, up by 2.2% from $5.72 billion in FY19/20, , the Chairman of the Suez Canal Authority (SCA), Osama Rabie, revealed.
The number of vessels passing through Egypt’s Suez Canal increased by 2.3% to 9,763 vessels carrying 610.1 million tonnes during the first half (H1) of 2021, compared to 9,546 vessels carrying 587.7 million tonnes in H1-20, he noted.
During H1-21, the revenues increased by 8.6% to $3 billion from $2.76 billion in H1-20, he added.
The incentives and fee deductions offered by the authority have helped boost the canal’s revenues during the six-month period by attracting a higher number of vessels.
