Despite The Ever Given Drama, Suez Canal Witnesses Record Year In 2021

Egypt’s Suez Canal has witnessed a record number of ships transiting the 1859-built canal in 2021, after 20,694 vessels passed through, generating a total revenue of a whopping $6.3 billion, despite being blocked by the 20,388 TEU megaship Ever Given for six long days back in March, 2021.

Despite The Ever Given Drama, Suez Canal Witnesses Record Year In 2021
The Panama-flagged Ever Given ran aground on the Suez Canal back in 23rd March 2021, which hampered approximately $9.6 billion worth of trade. The 300-meter long vessel was finally refloated on 29th March, and was held captive until 7th July, after a long legal battle between the shipowner and the SCA. | Image Courtesy: Reuters

Also Read: ‘Suez Canal On Rails’ Worth $4.34 Billion To Be Built By Egypt

Osama Rabie, the chairman of the Suez Canal Authority (SCA) expects the volume of vessels transiting the Suez Canal to be even higher in 2022, despite the 6% hike in transit fees, which is all set to come into force from February 2022, as ‘ship-makers are building more vessels’, said Rabie in an interview in Dubai on Sunday.

Liquified Natural Gas (LNG) carriers however, will be enjoying an exemption from the fee hike, while vessels powered by alternative marine fuels which satisfies United Nations’ emission standards might be eligible for the discount in the near future. The plans for which, however, is yet to be finalized, mentioned Rabie.

Noting the fact that the cruise industry has been hit hardest by the COVID-19 pandemic, if other shipping sectors are compared, the cruise ship transit fees too, will remain unchanged.

You Might Also Like: [Watch] World’s Biggest Containership, Ever Ace Passes The Suez Canal Successfully

Rabie further added that a project to widen the Suez Canal is underway, and is scheduled to be completed by July 2023. This will be paving way for the Suez Canal to accommodate 28% more vessels.

Leave a Reply

Your email address will not be published.