Egypt’s Suez Canal revenues fell in November, down around 8.8 % from October’s revenues as data showed from the cabinet’s website published on January 15. Although the Suez Canal reached the second highest daily traffic ever recorded on January 2 with 72 vessels with an overall tonnage of 5.1 million tons sailed through the canal, the revenues experienced a decrease.
Mainly, during November 2018, the Suez Canal experienced a decrease of $461.5 million in comparison to $506.1 million that were reached on October.
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The canal is the fastest shipping route between Europe and Asia and one of the government’s main sources of foreign currency.
Finally, one highlight of Suez Canal was on December 25, as 6 highly trained and well experienced pilots and 5 large tugs of the Suez Canal Authority (SCA) carried out one of the most difficult transits on 2018 as they navigated a giant floating production storage and offloading (FPSO) unit through the canal.
