Egypt Today: The Suez Canal Authority (SCA) forecasts a significant rise in its revenues in the coming years, with projections reaching around $8 billion for the fiscal year 2026/2027, and potentially $10 billion by 2027/2028, according to SCA Chairman Osama Rabie.
In a recent meeting with the International Monetary Fund (IMF) mission, Rabie shared that from July until now, 5,874 vessels have transited the Canal, carrying a total of 247.2 million tons, generating $1.970 billion in revenue. This marks a 5.2 percent increase in vessel numbers, a 14.4 percent rise in tonnage, and a 17.5 percent boost in revenue compared to the same period last year, which saw 5,584 vessels and 216 million tons generating $1.677 billion.
Ivana Vladkova-Hollar, Head of the IMF mission to Egypt, commended the Suez Canal's ability to manage crises and adapt flexibly to challenges. She praised the Canal's efforts to enhance service efficiency and maintain continuous communication with clients, which have helped support the sustainability of maritime traffic and stabilize operations in the Red Sea.
Hollar also underscored the strategic importance of the Suez Canal for global trade, emphasizing its advanced maritime and logistics services, which provide significant time and distance savings, making the Canal a crucial link in global supply chains.
Rabie highlighted that the Suez Canal remains one of Egypt’s key sources of foreign currency, generating $40 billion in revenue from 2019 to 2024. He also pointed out the Canal’s resilience in overcoming various challenges, including the COVID-19 pandemic, the Ever Given incident, the Russian-Ukrainian war, and the Red Sea crisis, achieved through adaptive strategies, flexible pricing, and consistent client engagement.
https://www.egypttoday.com/Article/3/143927/Suez-Canal-Authority-projects-30-revenue-growth-by-2027
