629 MILLION DOLLAR

The Suez Canal took in a record $629 million in toll revenue in April this year. This is reported by Reuters news agency. According to Suez Canal Authority (SCA) chairman and chief executive Osama Rabie, the number of oil tankers passing through the nearly 200-kilometer canal increased by nearly 30%. The numbers of LNG tankers and container ships also increased sharply, by 12% and 9% respectively.

In total, ships passed through the channel between the Red and Mediterranean Seas in April 1929, over 6% more than a year earlier and the third highest number of ships in a month on record. The amount of cargo transported via the canal of 114.5 million tons was also a new record.

The SCA’s revenues can be expected to increase further this year as the channel operator has significantly increased tolls. Chemical tankers will have to pay 20% more from this month and bulk carriers 10%. Container ships also have to pay more ‘due to changed calculation methods’.

According to the channel operator, the temporary price increase is “in line with significant growth in world trade, improvement in ship efficiency, improvement of the Suez Canal infrastructure and improvement of services.”