Suez Canal records its highest monthly revenue since 2023 in October
TASS · TASS ·
In October, 1,490 vessels transited the canal
CAIRO, November 6. /TASS/. The Suez Canal has recorded the highest revenue worth $724 mln since the Houthi attacks on vessels in the Red Sea began in 2023, Osama Rabie, Chairman of the Suez Canal Authority (SCA), said at a panel discussion organized by the Egyptian Businessmen's Association.
In October, 1,490 vessels transited the canal, "with a combined net tonnage of 88 mln tons and revenues of $724 mln," he said. Compared to last October, transit revenues nearly doubled, growing by 94%, the number of vessels rose by 32%, while tonnage climbed by 86%.
The SCA chairman expressed hope that the positive momentum would continue, with most global shipping lines returning to using the Suez Canal. He also highlighted the canal’s pivotal role in ensuring the resilience of global supply chains and noted that the administration had begun developing new areas of activity, including the localization of shipbuilding and the export of vessels abroad under the Made in Egypt brand.