Egypt's revenues from the Suez Canal reached $467.5 million in October, down from $469.6 million in September but up from $422.6 million in October 2007, the government said on Wednesday. The canal is an important source of foreign currency for Egypt, along with tourism, oil and gas exports and remittances from Egyptians living abroad. Piracy off Somalia has plagued the shipping lane linking the Middle East and Asia to Europe and beyond through the Suez Canal. Norwegian shipping group Odfjell said last month it would reroute vessels around Africa rather than using the Suez Canal because of piracy.
However, the number of vessels using the waterway rose to 1,930 in October from 1,872 in September and 1,787 in October 2007, the government said on its Information Portal Web site
However, the number of vessels using the waterway rose to 1,930 in October from 1,872 in September and 1,787 in October 2007, the government said on its Information Portal Web site
