Suez Canal revenues grew to $551.5 million in April 2021 despite the close to a week blockade of the canal by the Ever Given vessel.
The recorded revenue represents a 16 percent Year on Year (YoY) increment when compared to the $476.2 million recorded in April 2020,
According to a recent statement by the Suez Canal Authority (SCA), on a yearly basis, the number of ships passing through the Canal rose by 4.8 percent to 1,814 ships by the end of April, compared to 1,731 during the same period a year ago.
The rise in revenues from the Suez Canal, a key source of foreign currency to Egypt that was already hit hard by the pandemic, came after the Ever Given mega container vessel blocked the waterway for six days at the end of March.
Navigation along the canal after the successful refloating of Ever Given resumed on March 29, 2021 at 6 pm local time after its suspension on March 25, 2021.
Meanwhile, the SCA is seeking over $1 billion in compensation for the losses incurred from the blocking of the Suez Canal by Ever Given.
According to SCA Chairman Osama Rabei, the Authority will also request for reimbursement for the expenses incurred in using dredgers and tugboats in the refloating process.
With files from arabfinance