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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 ...
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 ...
The Suez Canal was blocked for six days from 23 to 29 March 2021 by the Ever Given, a container ship that had run aground in the canal. [4]The 400-metre-long (1,300 ft), 224,000-ton, 20,000 TEU vessel was buffeted by strong winds on the morning of 23 March, and ended up wedged across the waterway with its bow and stern stuck on opposite canal banks, blocking all traffic until it could be freed ...
Engineers on Monday “partially refloated” the colossal container ship that continues to block traffic through the Suez Canal, a canal services firm said.
A sharp downturn in revenue after sea attacks by Yemen's Houthis diverted away shipping away from the Suez Canal has struck a painful new blow to Egypt's already deteriorating economy, adding ...
During the 74 years of the United Kingdom's military presence in Egypt, from 1882 to 1956, the British government was in effective control of the Canal. In 1956, the Egyptian government nationalised the Suez Canal Company. Future wars between Egypt and Israel would see the canal blocked and unusable for extended periods of time.