Ossama Rabiee

Shipping Arabia, October 16, 2026 – The Suez Canal Authority (SCA) and Sri Lanka have discussed opportunities to strengthen maritime cooperation with Sri Lanka across shipbuilding, port operations, marine construction, logistics and specialized training. The discussions also covered potential partnerships between SCA-affiliated companies and Sri Lankan maritime businesses, alongside investment opportunities in the Suez Canal region.

SCA Chairman Adm. Ossama Rabiee met with Sri Lanka’s Ambassador to Egypt, Sisira Senavirathne, on October 7 at the authority’s Pilotage Building in Ismailia. The meeting focused on expanding bilateral cooperation and exchanging expertise in areas of mutual interest.

Rabiee welcomed the growing ties between Egypt and Sri Lanka, noting that both countries share a strong interest in maritime affairs. He said this common focus creates opportunities for collaboration in maritime industries, logistics, training and other related activities.

Expanding Maritime Cooperation With Sri Lanka

During the meeting, Rabiee confirmed that the SCA’s affiliated companies and shipyards are ready to explore cooperation with Sri Lankan maritime companies and institutions. Potential areas include marine construction, port works, the construction of different types of marine vessels and units, fishing activities and logistics services.

The SCA chairman also highlighted the capabilities of the authority’s Maritime Training and Simulation Academy. He identified maritime training and specialized consultancy services as additional areas where Egyptian and Sri Lankan organizations could exchange expertise and develop cooperation.

These opportunities form part of wider discussions aimed at strengthening institutional and commercial links between the two countries’ maritime sectors. The talks addressed both industrial activities and services supporting maritime operations.

Suez Canal Strategy Focuses on Maritime Industries and Logistics

Rabiee outlined the SCA’s strategy to diversify revenue sources and improve the canal’s competitiveness. He said the authority has significantly expanded its activities and services as part of an integrated approach to developing its maritime business.

The strategy focuses on localizing maritime industries while developing and modernizing marine and logistics services. According to Rabiee, these initiatives aim to broaden the authority’s activities and strengthen the range of services available within the Suez Canal sector.

He also addressed the geopolitical challenges affecting maritime trade in the region. The SCA continues to engage with stakeholders across the shipping industry to coordinate efforts and reduce the impact of regional tensions on trade passing through the canal.

Rabiee emphasized that these efforts also support the continuity of global supply chains. Maintaining communication and cooperation with the maritime community remains part of the authority’s approach to addressing current challenges.

Sri Lanka Eyes Investment Opportunities and Maritime Partnerships

Ambassador Senavirathne expressed appreciation for Egypt’s efforts to manage the Suez Canal efficiently despite the challenges affecting the region. He also acknowledged the canal’s important role in facilitating international maritime trade.

The ambassador emphasized Sri Lanka’s interest in opening new channels for maritime cooperation and exchanging expertise with Egyptian institutions and businesses. He also highlighted his country’s interest in exploring investment opportunities associated with development projects in the Suez Canal region.

Senavirathne pointed to Egypt’s strategic geographical location and developing infrastructure as factors supporting its investment attractiveness. He noted that these advantages contribute to the country’s important position in global trade.

As part of efforts to strengthen business connections, the ambassador invited the SCA and its affiliated companies and shipyards to participate in Sri Lanka Expo 2027, scheduled for mid-January 2027.

The exhibition, focused on exports, international trade and industry, was presented as an opportunity for Egyptian and Sri Lankan companies to establish partnerships and exchange technical and commercial expertise.

At the conclusion of the meeting, Rabiee presented the Suez Canal Shield to the Sri Lankan ambassador. He also invited Senavirathne to take a maritime tour of the New Suez Canal and visit the Suez Canal Museum to learn more about the canal’s development achievements.

Source: Suez Canal Authority

Shipping Arabia, October 2, 2026 – Suez Canal ship traffic rose 17.38% year on year during the first eight months of 2026, with 9,602 vessels transiting the waterway compared with 8,180 during the same period of 2025. The increase of 1,422 vessels came alongside strong growth in cargo volumes and canal revenues.

Total revenues reached about $3.493 billion from January through August, up from approximately $2.594 billion during the corresponding period of 2025. That represented an increase of $898.96 million, or 34.64%.

Cargo volumes also recorded significant growth. Total tonnage reached 437.93 million tons during the eight-month period, compared with 328.22 million tons a year earlier, an increase of 109.71 million tons or 33.43%.

August Leads Suez Canal Ship Traffic Growth

August recorded some of the strongest monthly gains across the canal’s main performance indicators. Vessel traffic increased to 1,358 ships from 1,070 in August 2025, representing an additional 288 vessels and growth of 26.92%.

The article’s reported revenue figures for August showed income rising to $570.23 million from $361.99 million in the same month of 2025. This represented an increase of $208.24 million and year-on-year growth of 57.53%.

July also recorded strong growth. A total of 1,340 vessels transited the canal during the month, compared with 1,055 in July 2025. The increase of 285 vessels represented growth of 27.01%.

July revenues reached $506.74 million, up from $355.82 million a year earlier. The increase amounted to $150.92 million, or 42.41%.

Suez Canal Authority Highlights August Performance

Adm. Ossama Rabiee, Chairman and Managing Director of the Suez Canal Authority, separately said the authority generated $567.1 million in August, compared with about $326 million during the same month of 2025, representing growth of 56.6%. His figures were presented during remarks at a World Maritime Day event held in Alexandria.

Rabiee also cited 1,358 vessel transits in August, compared with about 1,070 a year earlier, equivalent to growth of around 27%. Cargo volumes reached 68.3 million tons, compared with approximately 45.2 million tons in August 2025, an increase of 51.1%.

Regional Tensions Continue to Affect the Canal

Rabiee said the Suez Canal Authority continued to face the effects of geopolitical developments in the region and internationally. He referred to developments during September that, according to his remarks, included Houthi attacks on Saudi oil facilities on September 8 and Houthi control over the Mokha area near the Bab el-Mandeb Strait on September 10.

He said these developments affected Saudi crude oil production and exports. According to the figures he presented, Saudi crude production fell to 6 million barrels per day from about 10 million barrels per day, while crude exports declined by around 1.1 million barrels per day in August 2026 to approximately 3.5 million barrels per day.

Rabiee also said Saudi Arabia’s East-West pipeline temporarily stopped operating following attacks on key energy facilities. The pipeline has an export capacity of 5 million barrels per day, according to his remarks.

He added that the escalation contributed to crude oil prices again exceeding $100 per barrel for the first time since May. Insurance companies also increased war-risk premiums, while Saudi Arabia announced the establishment of a national mechanism to insure war risks for cargoes and vessels, according to the source.

Despite those developments, Rabiee said navigation through Bab el-Mandeb had not been affected, with traffic ranging between 26 and 37 vessels per day. He added that major shipping lines had not announced changes to their Red Sea and Suez Canal routes despite continuing regional tensions.

Source: Al Mal