Today, 44 ships passed through the canal from the north with a net tonnage of three million tons, while 45 ships crossed from the south with a net tonnage of 2.2 million tons, Rabie added in his statement.

The daily transit rates through the canal witnessed a "significant" increase after the opening of the new Suez Canal project, which pushed the average daily transit from 48 ships to 62, the SCA chairman stressed.

The previous daily transit record was reached on 29 September 2021 when 87 ships with a total net tonnage of 4.8 million tons transited the canal.

In July 2022, the canal recorded its all-time highest monthly revenue, reaching $704 million, in addition to the highest monthly transit and highest net tonnage.

It also recorded its highest-ever annual revenues in FY2021/22, recording $7 billion, up from $5.8 billion in the previous FY.

Rabie stressed that the canal's recent record numbers would never have been achieved without the new Suez Canal project, which contributed to increasing the capacity and efficiency of the canal to receive giant ships, he went on saying.

A major expansion to the length and the depth of the waterway took place in 2015. The expansion aimed to speed up the movement of vessels, enable the canal to handle supertankers and increase its revenues.

The SCA, Rabie emphasised, is proceeding on schedule with the accelerated development of the canal’s southern sector, pointing out that the project is of interest to the country's political leadership.

Egypt is working on extending the two-way segment of the Suez Canal by 10 kilometres to a total length of 82 kilometres, which will enable more ships to pass and increase traffic safety.

The second phase of the project aims to deepen 30 kilometres of the canal and widen it by by 40 metres.

The Suez Canal – which connects the Mediterranean and the Red Seas – is the shortest maritime route between Asia and Europe and is the fastest crossing from the Atlantic Ocean to the Indian Ocean.

It is one of Egypt’s main sources of foreign currency. Around 12 percent of the world’s trade passes through the canal.

In March 2022, the SCA increased transit dues by five to 10 percent for laden and ballast vessels transiting the global waterway.