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.
Osama Rabie, chairman of Egypt's Suez Canal Authority (SCA), speaks during a press conference
Osama Rabie, chairman of Egypt's Suez Canal Authority (SCA), speaks during a press conference after the release of the Panama-flagged MV Ever Given container ship, in the canal's central city of Ismailia on July 5, 2021. - MAHMOUD KHALED/AFP via Getty Images
Al Monitor: The Pulse of the Middle East
Al-Monitor Staff

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.

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