The Suez Canal, through which one-tenth of global seaborne trade passes, notched an 8 per cent increase in revenue in March and may attract more ships this month as incentives for using the waterway are offered more widely.
Revenue came to US$327 million compared with US$301.8 million in February, Egyptian Cabinet spokesman Magdy Rady told reporters in Cairo on Sunday. Some 1,440 vessels used the canal in March.
The number of ships passing through this month is likely to increase as the Suez Canal Authority makes incentives once reserved for frequent users or certain companies open 'to everyone', chairman Ahmed Fadel told Bloomberg News on the sidelines of a meeting with Egyptian Prime Minister Ahmed Nazif.
Revenue came to US$327 million compared with US$301.8 million in February, Egyptian Cabinet spokesman Magdy Rady told reporters in Cairo on Sunday. Some 1,440 vessels used the canal in March.
The number of ships passing through this month is likely to increase as the Suez Canal Authority makes incentives once reserved for frequent users or certain companies open 'to everyone', chairman Ahmed Fadel told Bloomberg News on the sidelines of a meeting with Egyptian Prime Minister Ahmed Nazif.