Egypt’s Suez Canal has recorded $704 million in revenue in July, marking its highest ever monthly revenue, its chairperson said in statement.
The figure represents a 32.4 percent increase from the same month last year, when the canal only recorded $531.8 million.
July also saw the canal’s highest monthly transit and net tonnage, Osama Rabie said.
Around 2,103 ships crossed the Suez Canal that month, an increase of 433 ships from the same period last year. Some 125.1 million tons of cargo were shipped through the canal as well, or an 18.2 percent increase from July 2021.
The canal recorded its highest ever daily revenue on July 29, hitting $31.8 million, Rabie added.
In terms of types of ships, the canal saw an influx of oil tankers, generating a revenue of $153 million, its highest revenue gain from oil tankers in its history.
Liquified natural gas (LNG) tankers increased by 31 percent, generating a revenue of $52 million, also the highest monthly revenue ever from the LNG sector.
The Suez Canal connects the Mediterranean Sea and the Red Sea, where around 12 percent of global trade passes through. It is one of Egypt’s main sources of foreign currency.
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