File Photo: A container ship sails through the new section of the Suez Canal in the Egyptian port city of Ismailia, 135 kilometers northeast of the capital Cairo.AFP
El-Sisi also issued a decree to appoint Walid Gamal El-Din as chairman of the General Authority for the Suez Canal Economic Zone (SCZone) for a one-year term starting today.
Gamal El-Din was previously appointed as CEO of the authority in January 2020 and deputy chairman in May 2022.
Admiral Osama Rabie, 67, has been serving as the SCA’s chief since August 2019 when he succeeded the previous chief, Mohab Mamish.
He graduated from the Egyptian Naval Academy, served in many senior military posts, and received many national commendations throughout his illustrious career.
Prior to 2019, Rabie had served as the deputy chief of the SCA since 2016.
He led the efforts to refloat the 400-metre-long, 200,000 ton container ship, Ever Given, that ran aground in the Suez Canal in March 2021 and blocked trade in the international route for six days.
The container ship was freed a couple of months later in July after the SCA and the ship's Japanese owner, Shoei Kisen, signed a settlement agreement ending the legal dispute that arose from the blockage.
Under the tenure of Rabie, the Suez Canal achieved unprecedented revenues of $7 billion this year as 22,000 vessels carrying 1.32 billion tons of goods crossed the international waterway.
A total of 130,000 vessels have crossed the waterway since the opening of the new parallel canal seven years ago, obtaining revenues worth $40 billion, Rabie said in remarks to media earlier this month.