Suez Canal revenue increases 31% on higher traffic and volume
The Suez Canal, the waterway that carried a 10th of global seaborne trade in 2007, said revenue gained 31 percent in June as the number of ships and tonnage increased. Income climbed to $471.4 million, from $358.8 million a year earlier, the Suez Canal Authority said in a statement posted on the government's Web site. As many as 1,819 ships, including 288 oil tankers, carrying 76.3 million tons of goods transited the canal in June, compared with 1,657 vessels carrying 66.8 million tons a year earlier, according to the statement. Egypt raised the toll for crossing the canal by an average of 7.1 percent starting in April to take advantage of an increase in seaborne trade from Asia.
The 139-year-old waterway, which was nationalized in 1956, generated revenue of $4.2 billion for the fiscal year to June 30, 17 percent more than a year earlier.
The 139-year-old waterway, which was nationalized in 1956, generated revenue of $4.2 billion for the fiscal year to June 30, 17 percent more than a year earlier.