Suez Canal records highest-ever monthly revenues in March

The Suez Canal has recorded its highest-ever monthly revenues in March, hitting $832.2, up 38.5% from $601.7 million in the same month of 2022, Al Mal reported on April 5th, citing data from the Suez Canal Authority (SCA) and Egypt’s Information Portal.

In March, a total of 2,191 ships carrying a net tonnage of 129 million tons have passed through the canal in both directions, up from 1,816 vessels with a net tonnage of 107 million tons in March 2022, data showed.

In the first quarter (Q1) of 2023, the canal’s total revenues jumped by 40.6% to $2.382 billion, compared to $1.694 billion in Q1 2022.

Chairman of the SCA Osama Rabie previously said that the authority targets increasing its revenues to $9 billion in 2023.
Source: Arab Finance