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Suez Canal records highest revenue since daily global crisis
Egypt’s Suez Canal recorded on Friday the highest daily revenue since the start of the global financial crisis near the end of 2008, a senior official said Sunday.
The revenues of the canal hit 18.7 million U.S. dollars on Friday, which
is the highest daily revenue since December 2008, Suez Canal Authority
(SCA) Chairman Ahmed Fadel said.
Payloads transiting the canal on the day made a record of 3.35 million
tons and the number of ships that crossed hit 65 vessels, which is the
highest rate in two years, Fadel added in a press release.
The senior official said such high rates reflect the improvement of the world’s economic performance and trade exchange.
The Suez Canal saw its revenue hitting 2.66 billion U.S. dollars over
the first seven months of 2010, marking an 11.5 percent increase
compared to the same period of 2009.
The number of ships passing through the waterway increased by 3. 1
percent in the first seven months of 2010, compared to 9,896 in the same
period last year. The volume of cargo which crossed the water route has
also increased by 18.8 percent to 369 million tons over the same
period, according to SCA recent statement.
The canal’s revenue in July grew by 6.1 percent to reach 406.2 million
dollars compared to the same period in 2009. It is also the highest
monthly revenue since late 2008.
Around 7 percent of sea transported world trade passes through the Suez
Canal, making it a barometer of global trade. The Suez Canal revenue is
one of the major sources of income for Egypt.
Source: Xinhua
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