Egypt Independent

Suez Canal revenues record $853.7 mn in March, April












Reasons include: the recovery of the global economy; the increase in the quantities of goods traded globally; in addition to the ongoing development projects in the Suez Canal; and the flexible marketing policies of the Suez Canal Authority










Suez Canal revenues over the past two months have reached $853.7 million, compared to $820.4 million for the same period last year, thus recording an increase of $33.2 million, equal to 4.1 percent, said the head of the Suez Canal Authority Mohab Mameesh.

Revenues in Egyptian pounds amounted to LE15.2 billion in March and April, compared to LE7 billion for the same period of 2016, recording an increase of LE8.1 billion, equal to 116.5 percent, he said in a statement on Wednesday.

These increases reflect the marked improvement in global trade traffic passing through the canal, according to Mameesh.

The number of ships that crossed the Suez Canal during March and April 2017 amounted to 2,973 ships, compared to 2,847 vessels during the same period of last year, recording an increase of 4.4 percent.

Mameesh attributed the increase to “the recovery of the global economy and the increase in the quantities of goods traded globally, in addition to the ongoing development projects in the Suez Canal and the flexible marketing policies of the Suez Canal Authority.”

The canal attracted 1,270 ships carrying 60.7 million tons during 2016 and the first third of 2017, which reflects the confidence of the international navigational community in the Suez Canal Authority, Mameesh said.

 

Edited translation from Al-Masry Al-Youm