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Suez Canal Chairman: Dollar Returns Up 35 Percent
The Chairman of the Suez Canal Authority, Major General Osama Rabei, stated that the total number of ships that have transited the canal since 1956 until now amounts to 1,116,000 vessels, with a net cargo tonnage of 33 billion tons, and revenues reaching $159 billion. He emphasized that the decision to nationalize the canal was fundamentally the basis for these revenues entering the country. He explained that the canal represents the shortest and most sustainable route for shipping goods, saving between 15 to 21 days of voyage time compared to the Cape of Good Hope route, and saving about $100 million in fuel costs per ship. He added that some ships temporarily diverted due to disturbances return to the canal once stability is restored, and major shipping companies like Maersk and MSC have begun to return. He noted that current operational rates are better than in the past two years, with a 35% increase in dollar revenue, alongside the introduction of new services by the Suez Canal Authority, including ship rescue, maintenance and repair of maritime units, and provision of ship supplies, along with equipped medical teams and ambulance services in the canal cities.
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