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In total, 20,649 vessels transited the Suez Canal in 2021 - an increase of 10% over 2020. [7] In 2022, annual revenue stood at $8 billion in transit fees. [8] The Suez Canal set a new record with annual revenue of $9.4 billion in USD for the fiscal year that ended June 30, 2023. [9] Suez Canal monthly revenue In USD
The Suez Canal (/ ˈ s uː. ɛ z /; Arabic: قَنَاةُ ٱلسُّوَيْسِ, Qanāt as-Suwais) is an artificial sea-level waterway in Egypt, connecting the Mediterranean Sea to the Red Sea through the Isthmus of Suez and dividing Africa and Asia (and by extension, the Sinai Peninsula from the rest of Egypt).
The canal is a key source of scarce foreign currency for indebted Egypt, which spent an estimated $8.2 billion on an expansion of the canal that opened in 2015 and included the creation of a 35-km ...
Until 1956, the Suez Canal was controlled by the Suez Canal Company, owned by France with Egyptian participation. Tensions first arose when Britain and the United States made a decision to not finance the Egyptian construction of the Aswan High Dam in response to Egypt’s growing relations with the communist state of Czechoslovakia and the ...
A container ship blocking the Suez Canal like a "beached whale" may take weeks to free, the salvage company said, as officials stopped all ships entering the channel on Thursday in a new setback ...
France, which had previously dominated the canal and whose investors still controlled the majority of shares in the Suez Canal Company, hoped to weaken British control and attempted to sway European opinion for internationalising the canal. The British and French governments compromised by seeking to neutralise the canal via treaty.
Engineers on Monday “partially refloated” the colossal container ship that continues to block traffic through the Suez Canal, a canal services firm said.
The war saw protracted conflict in the Suez Canal Zone, ranging from limited to large scale combat. Israeli shelling of the cities of Port Said , Ismailia , and Suez on the west bank of the canal, led to high civilian casualties (including the virtual destruction of Suez), and contributed to the flight of 700,000 [ 2 ] Egyptian internal refugees.