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Egypt plans to increase Suez Canal’s revenues by $1bn

The Suez Canal Authority aims to increase the Suez Canal’s revenues by as much as $1bn, Mohab Mamish, the chairperson of SCA informed. During the first year of its operation the canal achieved revenues worth a total of $600m. In addition to the $600m revenues, approximately 20,000 vessels crossed the canal per year. These ships carried over 1bn tonnes of cargoes.

Suez Canal’s revenues decrease by 8.8% in November

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. 

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