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Monday, 12 July 2021

Record revenues at the Suez Canal

Suez Canal revenues hit a record USD 5.84 bn in FY2020-2021, up slightly from USD 5.72 bn the year before, the Suez Canal Authority said in a statement yesterday.

This was despite the Ever Given debacle: Revenues during the first six months of 2021 rose to USD 3 bn from USD 2.7 bn in 1H2020, despite the Ever Given crisis that blocked the canal for almost a week in March. Almost 9.8K ships crossed the canal during 1H2021, compared to 9.5K ships last year.

The SCA has been doing its best to boost traffic through the canal, slashing transit fees for tankers at the end of 2020 and some container ships at the beginning of July, while transit fees for all ships were frozen at 2020 rates.

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