Suez Canal announces record $5.84B revenue after container ship jam
Osama Rabie, head of the Suez Canal Authority, said canal revenues were up 2% from the prior tax year.
The Suez Canal recorded more than $5 billion in revenue during the last tax year, even after a container ship in March caused an unprecedented traffic jam in one of the world's busiest waterways.
Osama Rabie, head of the Suez Canal Authority (SCA), said in a statement on Sunday that canal revenues were up 2% from the year prior, and at $5.84 billion, were the highest on record.
“Despite various challenges, revenues from the canal rose sharply,” he said.
Rabie credited the SCA’s marketing and flexible pricing policies, which he said “helped maintain a good rate of traffic through the canal and earned the trust of our partners.”
