Cairo – Suez Canal Authority chairman Osama Rabie announced that a record tonnage crossed the canal in October, reaching an all-time high of 122.1 million tons. Nearly 1,850 vessels crossed the waterway, up 14% from 1,620 a year ago. Tonnage was up 11.4% from 100.6 million tons in October 2020.
Rabie emphasized a significant increase of 12.4% in the revenue of Suez Canal in October, from USD 490.2 million in 2020 to USD 551.1 million in 2021.
The 163-kilometer-long Suez Canal is a man-made sea-level waterway, connecting the Mediterranean Sea to the Red Sea. It allows for vessels to cross between Europe and Asia in both directions simultaneously and is the fastest sea route between these continents, saving around 15 days compared to the Cape of Good Hope.
Rabie explained that the increase in the navigation rate is the result of a series of policies taken regarding several vessels crossing the canal, particularly liquefied natural gas ships. He said that 84 gas carriers went through the canal, up from 46 a year ago. There figures represent an unprecedent 82.6% increase in the number of gas carriers. The tonnage they carry climbed 87.5%.
The number of ships and their tonnage increased year to date, too. Year to date through October, the number of vessels climbed to 17,020 from 15,640 a year ago, up 8.8%. Tonnage reached 1,050 billion tonnes, up from 968,6 million a year ago. Despite the challenges the world has faced this year, Suez Canal revenues rose to USD 5.1 billion in the first 10 months of 2021, an increase of 12.6% from USD 4.6 billion a year ago.
Translated by Guilherme Miranda
