Suez Canal’s revenues rise by 1.3%, recording $5.8bn in 2019

Daily News Egypt
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Suez Canal’s revenues rose by 1.3% to record $5.8bn in 2019, according to the Suez Canal Authority (SCA).

Osama Rabie, the head of the Suez Canal Authority, said in a press statement on Saturday, that the Suez Canal recorded the transit of 18,880 ships with a net weight of 1.2 bn tons and revenues of $ 5.8 bn during 2019.

He added that the Authority’s marketing policies succeeded in attracting new lines with a total of 3,363 ships and revenues amounting to $ 731m during 2019 from the new lines.

Rabie said that the SCA decided to fix transit fees for all types of ships crossing the Suez Canal for the new year, except in two categories.

The SCA decided to raise cross-fees by 5%, compared to their fees last year, on two categories of ship types, which are bulk barriers and LPG tankers.

The SCA mentioned that this increase will be implemented starting in April. Meanwhile, the ships types that will benefit from the decision include container ships, oil tankers, and its products, natural gas tankers, car carrier ships, general cargo, tractors, tourist ships, and more.

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