Record cargo shipped through Egypt's Suez Canal last year | Inquirer Business

Record cargo shipped through Egypt’s Suez Canal last year

/ 12:58 PM January 03, 2022

Record cargo shipped through Egypt's Suez Canal last year

The Panama-flagged MV ‘Ever Given’ container ship sails past a tugboat spraying a jet of water along Egypt’s Suez Canal near the canal’s central city of Ismailia on July 7, 2021. – Megaship the MV Ever Given, which had blocked the Suez Canal for six days in March, weighed anchor on July 7 after Egyptian authorities and the Japanese owner agreed a compensation deal. The 200,000-tonne container vessel was stuck in the waterway during a sandstorm on March 23, causing major disruption to world shipping and the loss of millions in revenue for Egypt. (Photo by Mahmoud KHALED / AFP)

CAIRO — Egypt’s Suez Canal Authority said the key waterway netted record revenues last year, despite the coronavirus pandemic and a six-day blockage by giant cargo ship the Ever Given.

Connecting the Red Sea and the Mediterranean, the canal accounts for roughly 10 percent of global maritime trade and is a source of much-needed foreign currency for Egypt.


In 2021, some 1.27 billion tons of cargo were shipped through the canal, earning $6.3 billion dollars (5.5 billion euros) in transit fees, 13 percent more than the previous year and the highest figures ever recorded, Suez Canal Authority (SCA) chief Osama Rabie said.


The number of ships using the canal rose from 18,830 in 2020 to 20,694 in 2021, or more than 56 ships per day, the SCA said in a statement.

In March, the Ever Given super tanker — a behemoth with deadweight tonnage of 199,000 — got stuck diagonally across the canal during a sandstorm.

A round-the-clock salvage operation took six days to dislodge it, and one employee of the SCA died during the rescue operation. Egypt lost some $12 million to $15 million each day during the canal closure, according to the SCA.

The Ever Given safely returned back through the canal without a hitch in August.

In November, the SCA said it will hike transit tolls by six percent starting in 2022, but tourist vessels and liquefied natural gas carriers are be exempted.


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Settlement agreed to release ship that blocked Suez Canal

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TAGS: Business, cargo, economy, Egypt, Suez Canal, Transport

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