Suez Canal’s revenues are expected reach approximately $4.2 billion this year, up from $3.9 billion in the previous year, said Osama Rabie, Chairman of the Suez Canal Authority (SCA).
The Canal achieved its highest-ever annual revenue in 2023, reaching $10.2 billion, said a WAM news agency report.
He described the performance as a “real beginning of gradual recovery” in international maritime transit through the Suez Canal and the Red Sea, following a period of slowdown driven by security tensions in the region.
Rabie noted that the past few months have seen a noticeable rebound in traffic, with the number of vessels transiting the Canal rising 16% in October on an annual basis, while dollar-denominated revenues grew by 17% year-on-year.
He added that 13,213 vessels transited the canal in 2024, compared to a record 26,434 vessels in 2023.
