Admiral Osama Rabie: The Suez Canal achieves its highest annual financial revenue historically
Aldiplomasy - So, Egypt can pay off its debts within a short period, and we do not have a dollar crisis..Why does Egypt not replace the Suez Canal transit charges with the Egyptian pound instead of the dollar in order to raise its value in the global markets?!
Ashraf AboArafe
During the global press conference of the Suez Canal Authority, Admiral Osama Rabie:
“The Suez Canal achieves the highest annual financial revenue in its history of $9.4 billion and the largest annual net tonnage of 1.5 billion tons during the fiscal year 2022/2023.”
92.4% completion rate for the project of widening and deepening the canal, and 50.3% for the project to double the canal in the Lesser Bitter Lakes
Removing 48.6 million cubic meters of sand saturated with water in the Southern Sector Development Project
Adding 28 locomotives to the marine fleet as part of an integrated program to develop the marine fleet
The rate of accidents in the canal does not exceed 0.09%, which is a very small percentage compared to the annual crossing rates
The Authority’s assets belong to the Egyptians and we are working to develop them
Admiral Osama Rabie, Chairman of the Suez Canal Authority, announced today, Wednesday, that the canal navigation statistics during the fiscal year 2022/2023 set new and unprecedented records throughout the history of the canal, achieving the highest rate of transit of 25,887 ships, and the highest annual net tonnage for a fiscal year of 1.5 billion tons. And the highest annual financial revenue amounted to 9.4 billion dollars, surpassing all previously recorded figures.
Lieutenant General Rabie stressed that the Suez Canal succeeded during the past four years in achieving a qualitative leap in the results of its work, despite the successive global crises that the Suez Canal faced, starting with the emerging Corona Virus pandemic “COVID_19” and passing through the crisis of global recession and the crisis of the Russian-Ukrainian war, pointing out in In this regard, the success was not born of chance, but rather came as a result of strategic planning, hard work, continuous development, and the adoption of flexible pricing and marketing policies that had a great impact in attracting new shipping lines, and dealing flexibly with the changes occurring in the maritime transport industry.
Lieutenant General Rabie confirmed that the Suez Canal Authority is a pioneering model in adopting the latest management and operation methods and applying integration mechanisms between all elements of maritime transport in order to achieve the desired goals within its integrated vision and ambitious strategy 2030.
He explained that the Authority’s strategy aspires to maintain the safe and sustainable flow of global trade traffic through the Suez Canal by providing an integrated package of technological solutions, logistical services, marine activities and value-added industries supported by a base of accumulated human experience of more than 150 years.
He pointed out that the development strategy 2030 is crystallized around several axes, most notably the development of the canal’s navigational course, the modernization of the authority’s marine fleet, in addition to maximizing the utilization of assets and diversifying sources of income.
The Chairman of the Authority stated that the Suez Canal has come a long way towards implementing its ambitious strategy to develop the navigational course of the canal, to achieve in a few years what has not been achieved before throughout the history of the canal, in light of the full support we enjoy and periodic follow-up from President Abdel Fattah El-Sisi, President of the Republic, and his adoption of a proactive vision. It aspires to maintain the competitive leadership of the canal and raise its global ranking through the implementation of a series of giant development projects, starting with the new Suez Canal project, which we are currently reaping the fruits of, passing through the ongoing southern sector development project, which will increase the capacity of the canal by 6 ships, and increase the safety factor. Malahi in that sector by 28%.
He added that the rates of implementation of the southern sector development project are proceeding at a steady pace according to the specified schedule, as the completion rate of the double channel project in the Lesser Bitter Lakes reached 50.3% of the project’s work volume, with dredging rates of 32 million cubic meters of sand saturated with water, while the completion rate reached With the expansion and deepening project, 92.4% of the work volume of the canal expansion and deepening project, with a total dredging volume of 16.6 million cubic meters of sand saturated with water.
The Chairman of the Authority reviewed the most important challenges facing the implementation of the Southern Sector Development Project, which has not witnessed any development work since 1990 due to the nature of the solid soil, referring in this regard to the arrangements that preceded the start of the project.
The most important of which are the engineering and civil works necessary to prepare the work site to allow the entry of dredgers into the two project sites, in addition to preparing sedimentation basins, conducting the necessary studies to deal with the nature of very hard rocky soil, and taking related logistical measures such as preparing spare parts and excavator tooth requirements.
He added that the challenges associated with the implementation of the project included the short period of time allotted for dredging work and its connection to navigational intervals, which ranges from (4 to 9) hours per day.
Lieutenant General Rabie touched on the development of the Authority’s marine fleet, which tops the priorities of work within the development strategy, as the Authority is working on completing the program of modernizing and developing the marine fleet by adding new marine units to the fleet, including dredgers, accompanying tugboats, rescue tugs, marine yachts, ferries, and others.
The Chairman of the Authority stated that the Suez Canal succeeded during the past three years in implementing an integrated program that includes the construction of 28 locomotives, where the construction of four tugboats was completed in the Port Said marine arsenal with a tensile strength of 70 tons, in addition to building 6 locomotives within the contract with the Chinese company Guangzhou, in addition to building 10 Locomotives with a tensile strength of 90 tons, in addition to the two rescue tugs with a tensile strength of 190 tons, and 6 small locomotives with capacities ranging from (9_15) tons.
The Chairman of the Authority stressed that the allegations of a decline in the levels of navigational safety in the Suez Canal and their exploitation of some regular accidents in the navigational course of the Canal, which is incorrect and requires confirmation that the indicators indicate that the rate of accidents in the Canal does not exceed 0.09%, which is a very small percentage that I do not remember. Compared to the annual crossing rates of the Walt Canal.
