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FINANCIAL NEWS
Suez Canal’s 2011 revenue rises 9.6%
15 Jan 2012
(MENAFN) Egypt’s official news agency MENA reported that in 2011, revenues of the country’s Suez Canal grew 9.6 percent from 2010 to USD5.22 billion.
The agency added that starting March 2012, the Canal’s authority would lift tolls by 3 percent for all vessels passing through the waterway, adding that for the past 3 years, tariffs had not been changed and the decision was taken based on studies on the global economy and trade.
It also said that revenue of the Suez Canal, which is an artificial sea-level waterway linking the Mediterranean Sea and the Red Sea, was one of the country’s main sources of foreign currency.
It is worth noting that in 2011, 17,799 vessels passed the Suez Canal, recording a decline of 1.1 percent from the previous year, whereas cargo volume rose by 9.7 percent.
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