This archive report was first published on 2 January 2022.
Published on January 2, 2022, the Suez Canal Authority (SCA) reported a record-breaking year for cargo shipments in 2021.
The canal, which connects the Red Sea and the Mediterranean, accounted for approximately 10 percent of global maritime trade and generated much-needed foreign currency for Egypt.
According to the SCA, 1.27 billion tons of cargo were shipped through the canal in 2021, resulting in $6.3 billion (5.5 billion euros) in transit fees. This represents a 13 percent increase from the previous year and the highest figures ever recorded, as stated by SCA chief Osama Rabie.
The number of ships using the canal also saw a significant increase, rising from 18,830 in 2020 to 20,694 in 2021, or more than 56 ships per day.
However, the canal faced a major disruption in March 2021 when the Ever Given super tanker became stuck diagonally across the canal during a sandstorm. A six-day salvage operation was required to dislodge the vessel, resulting in the death of one SCA employee and estimated losses of $12 million to $15 million per day for Egypt.
Fortunately, the Ever Given safely returned through the canal in August 2021 without any further issues.
Looking ahead, the SCA announced in November 2021 that it would increase transit tolls by six percent starting in 2022, although tourist vessels and liquefied natural gas carriers would be exempt from the hike.
