1.7 mln ships have transited the Suez Canal since its nationalization in 1956: SCA

Ahram Online , Wednesday 26 Jul 2023

1.71 million ships carrying 32 billion tons of goods have transited the Suez Canal since nationalization on 26 July 1956, Chairman of the Suez Canal Authority (SCA) Osama Rabie said on Wednesday.

Suez canal
In this Sept. 14, 1956 file photo, the Greek cargo Tasmania anchored in the harbor of Port Said, Egypt, waits to sail toward Suez with the first Egyptian piloted convoy after midnight. AP

 

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The Suez Canal has generated revenues in excess of $143.864 billion for Egypt since 1956, making it the country's second-largest source of revenue after tourism, according to Chairman Rabie.

A man-made waterway connecting the Mediterranean Sea to the Red Sea, the Suez Canal has been one of the modern world's most vital trade routes since its inauguration in 1869.

On a momentous day in the summer of 1956, President Gamal Abdel-Nasser announced the nationalization of the canal, which was under a 99-year use lease to Britain and France set to expire in 1968.

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