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Originally published by Capital Business
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business
August 1, 2025
4w ago

Suez Canal achieves $153.4bn in revenue since 1956 nationalization: chairman

Suez Canal achieves $153.4bn in revenue since 1956 nationalization: chairman

ISMAILIA, Egypt, Aug 1 (Xinhua) -- Chairman of the Suez Canal Authority Osama Rabie said on Thursday that the Suez Canal has generated 153.4 billion U.S. Kenya breaking news | Kenya news today |..

✨ Key Highlights

Since its nationalization in 1956, the Suez Canal has generated 153.4 billion U.S. dollars in revenue and facilitated the transit of approximately 1.1 million ships. This marks a significant achievement for Egypt in maintaining sovereignty over the crucial maritime passage.

  • The Suez Canal Authority’s chairman, Osama Rabie, announced the revenue milestone during celebrations for the 69th anniversary of the canal's nationalization.
  • The canal has undergone significant development, including an expansion of its draft from 10 meters to 22 meters and an increase in dual-lane sections from 27.7 km to 99 km.
  • Daily ship transits have decreased from 75-80 to 30-35 due to attacks on commercial vessels in the Bab al-Mandab Strait and Red Sea by the Yemeni Houthi group, resulting in an estimated monthly revenue loss of 800 million dollars, according to Egyptian President Abdel-Fattah al-Sisi.

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Suez Canal achieves $153.4bn in revenue since 1956 nationalization: chairman